element <optionType> (local)

Namespace: | http://www.fpml.org/FpML-5/reporting
Type: | SwaptionTypeEnum
Content: | simple
Defined: | locally witnin Swaption complexType in fpml-ird-5-5.xsd; see XML source

Content Model Diagram

XML Representation Summary
<optionType>
| Content: | { enumeration of xsd:token }
</optionType>

Simple Content Detail:

Enumeration: |
"Payer" | - | A Payer swaption confers on the buyer the right, but not the obligation, to enter into the underlying swap as payer of the fixed rate (and receiver of the floating rate). See: http://www.FpML.org
"Receiver" | - | A Receiver swaption confers on the buyer the right, but not the obligation, to enter into the underlying swap as receiver of the fixed rate (and payer of the floating rate). See: http://www.FpML.org
"Straddle" | - | A swaption straddle is a strategy trade, in which the buyer simultaneously purchases a Payer and a Receiver swaption at the same strike (fixed rate) and with otherwise identical economic characteristics. See: http://www.FpML.org
"NonStandard" | - | This designation is reserved for swaptions with non-standard characteristics e.g. having a basis swap or cross-currency swap underlyer. See: http://www.FpML.org

Included in content model of elements (1):

  swaption

Annotation
The type of option transaction. From a usage standpoint, put/call is the default option type, while payer/receiver indicator is used for options index credit default swaps, consistently with the industry practice. Straddle is used for the case of straddle strategy, that combine a call and a put with the same strike. This element is needed for transparency reporting because the counterparties are not available, and is made available in other views for convenience; it is not intended to be used for confirmation processing. If the swaption straddle indicator is provided, this must not be in conflict with that indicator.
XML Source (w/o annotations (1); see within schema source)

<xsd:element minOccurs="0" name="optionType" type="SwaptionTypeEnum"/>

XML schema documentation generated with DocFlex/XML 1.8.6b2 using DocFlex/XML XSDDoc 2.5.1 template set. All content model diagrams generated by Altova XMLSpy via DocFlex/XML XMLSpy Integration.