Option A10a/5a(Type of Swap) (Settlement Method)| Option A |
10a/5a |
(Type of Swap) (Settlement Method) |
Mandatory
This field specifies the type of transaction being confirmed, as well as the settlement method used.
Type of Swap must be specified using one of the following codes (Error code(s): T47):
| CAPBUYER |
Party A buys the cap and pays the premium. |
| CAPSELLER |
Party A sells the cap and receives the premium. |
| COLLARBYER |
Party A buys the collar and pays the premium. |
| COLLARSLLR |
Party A sells the collar and receives the premium. |
| FLOORBUYER |
Party A buys the floor and pays the premium. |
| FLOORSLLER |
Party A sells the floor and receives the premium. |
| FIXEDFIXED |
IRS where both parties pay fixed rates. |
| FIXEDFLOAT |
IRS where Party A pays fixed and receives floating rates. |
| FLOATFIXED |
IRS where Party A pays floating and receives fixed rates. |
| FLOATFLOAT |
IRS where both parties pay floating rates. |
Settlement Method must contain one of the following codes (Error code(s): T48):
| GROSS |
All due amounts are to be paid in full. |
| NET |
All due amounts are to be netted, resulting in a single payment when due dates coincide. |
Netting in this context relates to this individual confirmation only and not to the client transaction portfolio which would be provided for within master documentation.
