fpml:fxDigitalOption

An FX digital option transaction definition.

Element information

Content

• Sequence [1..1]
  from type fpml:Product
  from group fpml:Product.model
  Sequence [0..1]
  1. fpml:primaryAssetClass [0..1]    A classification of the most important risk class of the trade. FpML defines a simple asset class categorization using a coding scheme.
  2. fpml:secondaryAssetClass [0..*]    A classification of additional risk classes of the trade, if any. FpML defines a simple asset class categorization using a coding scheme.
  3. fpml:productType [0..*]    A classification of the type of product. FpML defines a simple product categorization using a coding scheme.
  4. fpml:productId [0..*]    A product reference identifier. The product ID is an identifier that describes the key economic characteristics of the trade type, with the exception of concepts such as size (notional, quantity, number of units) and price (fixed rate, strike, etc.) that are negotiated for each transaction. It can be used to hold identifiers such as the "UPI" (universal product identifier) required by certain regulatory reporting rules. It can also be used to hold identifiers of benchmark products or product temnplates used by certain trading systems or facilities. FpML does not define the domain values associated with this element. Note that the domain values for this element are not strictly an enumerated list.
  5. fpml:embeddedOptionType [0..2]    Describes the type of any embedded optionality in the transaction that might not otherwise be apparent. Can be used to represent embedded optionality such as early termination provisions, extendible provisions, or cancelable provisions, etc., where applicable. If omitted, no embedded optionality is applicable.
  from type fpml:Option
  from group fpml:BuyerSeller.model
  fpml:buyerPartyReference [0..1]    A reference to the party that buys this instrument, ie. pays for this instrument and receives the rights defined by it. See 2000 ISDA definitions Article 11.1 (b). In the case of FRAs this the fixed rate payer.
  fpml:sellerPartyReference [0..1]    A reference to the party that sells ("writes") this instrument, i.e. that grants the rights defined by this instrument and in return receives a payment for it. See 2000 ISDA definitions Article 11.1 (a). In the case of FRAs this is the floating rate payer.
  1. fpml:effectiveDate [0..1]    Effective date for a forward starting derivative. If this element is not present, the effective date is the trade date.
  2. fpml:tenorPeriod [0..1]    A tenor expressed as a period type and multiplier (e.g. 1D, 1Y, etc.)
  3. Choice [0..1]
     • Sequence [1..1]
       1. fpml:americanExercise [1..1]    The parameters for defining the exercise period for an American style option.
       2. fpml:touch [0..*]    Defines one or more conditions underwhich the option will payout if exercisable.
     • Sequence [1..1]
       1. fpml:europeanExercise [1..1]    The parameters for defining the exercise period for an European style option.
       2. fpml:trigger [0..*]    Defines one or more conditions underwhich the option will payout if exercisable.
  4. fpml:payout [1..1]    The amount of currency which becomes payable if and when a trigger event occurs.
  5. fpml:premium [1..*]    Premium amount or premium installment amount for an option.

Attributes

Used in

• Type fpml:Strategy
• Type fpml:PhysicalSettlement (Element fpml:physicalSettlement)
• Type fpml:Trade (Elements fpml:trade, fpml:originalTrade, fpml:resultingTrade, fpml:trade, fpml:originalTrade, fpml:oldTrade, fpml:trade, fpml:feeTrade, fpml:newTrade, fpml:oldTrade, fpml:trade, fpml:trade)

Substitution hierarchy

• fpml:product
  • can be substituted with fpml:fxDigitalOption

Sample instance

<fpml:fxDigitalOption>
   <fpml:primaryAssetClass>normalizedString</fpml:primaryAssetClass>
   <fpml:secondaryAssetClass>normalizedString</fpml:secondaryAssetClass>
   <fpml:productType>normalizedString</fpml:productType>
   <fpml:productId>normalizedString</fpml:productId>
   <fpml:embeddedOptionType>normalizedString</fpml:embeddedOptionType>
   <fpml:buyerPartyReference href="IDREF"/>
   <fpml:sellerPartyReference href="IDREF"/>
   <fpml:effectiveDate>
      <fpml:adjustableDate>
         <fpml:unadjustedDate>2000-01-01</fpml:unadjustedDate>
      </fpml:adjustableDate>
   </fpml:effectiveDate>
   <fpml:tenorPeriod>
      <fpml:periodMultiplier>1</fpml:periodMultiplier>
      <fpml:period>D</fpml:period>
   </fpml:tenorPeriod>
   <fpml:americanExercise>
      <fpml:commencementDate>
         <fpml:adjustableDate>...
         </fpml:adjustableDate>
      </fpml:commencementDate>
      <fpml:expiryDate>2000-01-01</fpml:expiryDate>
      <fpml:latestValueDate>2000-01-01</fpml:latestValueDate>
   </fpml:americanExercise>
   <fpml:touch>
      <fpml:quotedCurrencyPair>
         <fpml:currency1>normalizedString</fpml:currency1>
         <fpml:currency2>normalizedString</fpml:currency2>
         <fpml:quoteBasis>Currency1PerCurrency2</fpml:quoteBasis>
      </fpml:quotedCurrencyPair>
   </fpml:touch>
   <fpml:payout>
      <fpml:currency>normalizedString</fpml:currency>
      <fpml:amount>1.0</fpml:amount>
      <fpml:payoutStyle>Deferred</fpml:payoutStyle>
   </fpml:payout>
   <fpml:premium>
      <fpml:paymentAmount>
         <fpml:currency>normalizedString</fpml:currency>
         <fpml:amount>1.0</fpml:amount>
      </fpml:paymentAmount>
      <fpml:quote>
         <fpml:value>1.0</fpml:value>
         <fpml:quoteBasis>PercentageOfCallCurrencyAmount</fpml:quoteBasis>
      </fpml:quote>
   </fpml:premium>
</fpml:fxDigitalOption>