MT 306 Field Specifications

9. Field 12F: Option Style

FORMAT

Option F

4!c

(Option Style)

PRESENCE

Mandatory

DEFINITION

This field specifies the option style.

CODES

Option Style must contain one of the following codes (Error code(s): T64):

BINA	A binary option is an agreement under which a fixed amount is paid out if a specific condition is met at any time during the exercise period. The expiration style is European or American. The binary option has only "payment triggers".
DIGI	A digital option is an agreement under which a fixed amount is paid out if a specific condition is met on expiration date. The digital option has only "payment triggers" which may be single or double trigger level.
NOTO	A notouch option is an agreement under which a fixed amount is paid unless a specific condition is met. The notouch option has only "no payment triggers" which may be single or double trigger levels.
VANI	A vanilla option is a contract that provides the buyer the right but not the obligation to buy or sell the underlying currency at a predetermined rate with expiration determined by the expiration style. The expiration style is European, American or Bermudan.