fpml:referenceInformation

This element contains all the terms relevant to defining the reference entity and reference obligation(s).

Element information

Content

• Sequence [1..1]
  1. fpml:referenceEntity [1..1]    The corporate or sovereign entity on which you are buying or selling protection and any successor that assumes all or substantially all of its contractual and other obligations. It is vital to use the correct legal name of the entity and to be careful not to choose a subsidiary if you really want to trade protection on a parent company. Please note, Reference Entities cannot be senior or subordinated. It is the obligations of the Reference Entities that can be senior or subordinated. ISDA 2003 Term: Reference Entity
  2. Choice [0..1]
     • fpml:referenceObligation [1..*]    The Reference Obligation is a financial instrument that is either issued or guaranteed by the reference entity. It serves to clarify the precise reference entity protection is being offered upon, and its legal position with regard to other related firms (parents/subsidiaries). Furthermore the Reference Obligation is ALWAYS deliverable and establishes the Pari Passu ranking (as the deliverable bonds must rank equal to the reference obligation). ISDA 2003 Term: Reference Obligation
     • fpml:noReferenceObligation    Used to indicate that there is no Reference Obligation associated with this Credit Default Swap and that there will never be one.
     • fpml:unknownReferenceObligation    Used to indicate that the Reference obligation associated with the Credit Default Swap is currently not known. This is not valid for Legal Confirmation purposes, but is valid for earlier stages in the trade life cycle (e.g. Broker Confirmation).

Attributes

None

Used in

• Type fpml:GeneralTerms (Element fpml:generalTerms)

Sample instance

<referenceInformation>
   <referenceEntity id="referenceEntity">
      <entityName>ACOM CO., LTD.</entityName>
      <entityId entityIdScheme="http://www.fpml.org/spec/2003/entity-id-RED-1-0">004CC9</entityId>
   </referenceEntity>
   <referenceObligation>
      <bond>
         <instrumentId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-ISIN-1-0">JP310860A032</instrumentId>
         <couponRate>0.0213</couponRate>
         <maturity>2007-03-08</maturity>
      </bond>
   </referenceObligation>
</referenceInformation>