fpml:fxOption

An FX 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]
     • fpml:americanExercise    The parameters for defining the exercise period for an American style option.
     • fpml:europeanExercise    The parameters for defining the exercise period for an European style option.
  4. fpml:putCurrencyAmount [1..1]    The currency amount that the option gives the right to sell.
  5. fpml:callCurrencyAmount [1..1]    The currency amount that the option gives the right to buy.
  6. fpml:soldAs [0..1]    Indicates how the product was original sold as a Put or a Call.
  7. fpml:strike [1..1]    Defines the option strike price.
  8. fpml:spotRate [0..1]    An optional element used for FX forwards and certain types of FX OTC options. For deals consumated in the FX Forwards Market, this represents the current market rate for a particular currency pair. For barrier and digital/binary options, it can be useful to include the spot rate at the time the option was executed to make it easier to know whether the option needs to move "up" or "down" to be triggered.
  9. fpml:premium [1..1]    Premium amount or premium installment amount for an option.
  10. fpml:cashSettlement [0..1]    Specifies the currency and fixing details for cash settlement. This optional element is produced only where it has been specified at execution time that the option wlll be settled into a single cash payment - for example, in the case of a non-deliverable option (although note that an Fx option may be contractually cash settled, without necessarily being non-deliverable).

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:fxOption

Sample instance

<fxOption>
   <primaryAssetClass>ForeignExchange</primaryAssetClass>
   <productType>ForeignExchange:VanillaOption</productType>
   <europeanExercise>
      <expiryDate>2002-06-04</expiryDate>
      <valueDate>2002-06-06</valueDate>
   </europeanExercise>
   <putCurrencyAmount>
      <currency>AUD</currency>
      <amount>75000000</amount>
   </putCurrencyAmount>
   <callCurrencyAmount>
      <currency>USD</currency>
      <amount>36900000</amount>
   </callCurrencyAmount>
   <strike>
      <rate>0.4920</rate>
      <strikeQuoteBasis>CallCurrencyPerPutCurrency</strikeQuoteBasis>
   </strike>
   <premium>
      <paymentAmount>
         <currency>USD</currency>
         <amount>36900</amount>
      </paymentAmount>
      <quote>
         <value>0.001</value>
         <quoteBasis>PercentageOfCallCurrencyAmount</quoteBasis>
      </quote>
   </premium>
</fxOption>