Narrative
On 23 January 2007, The Bank of Nova Scotia, Toronto, agrees, by telephone, to purchase from Morgan Guaranty Trust Company of New York, London, a call option of 5000 fine ounces of gold loco London in the form of London Gold Market Good Delivery Bars (that is, 995+ market bars). Both counterparties have agreed to a strike price of US Dollars 410.50 per fine ounce, and a premium price of US Dollars 10.50. Both have agreed that Morgan Guaranty Trust Company of New York, London, will be paid at Chase Manhattan Bank, New York.
The exercise date is agreed for 31 May 2007.
Information Flow
SWIFT Message from the Bank of Nova Scotia, Toronto
 Explanation |
Format |
|---|---|
| Sender |
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| Message Type |
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| Receiver |
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| Message Text |
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| Transaction Reference Number |
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| Type of Contract |
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| Code/Common Reference |
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| Scope of Operation |
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| Party A |
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| Party B |
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| Further Identification
(1) |
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| Date Contract Agreed/Amended |
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| Identification of the Commodity |
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| Expiry Details
(2) |
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| Final Settlement Date |
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| Settlement Type |
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| Unit and Amount of the Commodity
(3) |
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| Strike Price |
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| Premium Price |
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| Premium Payment
(4) |
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| Account With Institution
(5) |
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| Sender to Receiver Information
(6) |
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| End of Message Text/Trailer |
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(1) The codes indicating whether the option has been bought or sold and its type and style.
(2) The date, time and location after which the option purchased expires.
(3) The unit and amount of the underlying commodity of the option purchased.
(4) The value date, currency code and amount of the premium the Sender will pay to the Receiver.
(5) The financial institution to which the Sender will transfer the funds specified in field 34P to the Receiver.
(6) The code indicating the method by which the deal was agreed.
SWIFT Message from Morgan Guaranty Trust Company of New York, London
| Explanation |
Format |
|---|---|
| Sender |
|
| Message Type |
|
| Receiver |
|
| Message Text |
|
| Transaction Reference Number |
|
| Type of Contract |
|
| Code/Common Reference |
|
| Further Identification
(1) |
|
| Scope of Operation |
|
| Party A |
|
| Party B |
|
| Date Contract Agreed/Amended |
|
| Identification of the Commodity |
|
| Expiry Details
(2) |
|
| Final Settlement Date |
|
| Settlement Type |
|
| Unit and Amount of the Commodity
(3) |
|
| Strike Price |
|
| Premium Price |
|
| Premium Payment
(4) |
|
| Account With Institution
(5) |
|
| Sender to Receiver Information
(6) |
|
| End of Message Text/Trailer |
|
(1) The codes indicating whether the option has been bought or sold and its type and style.
(2) The date, time and location after which the option sold by the Sender expires.
(3) The unit and amount of the underlying commodity of the option sold.
(4) The value date, currency code and amount of the premium which is due to the Sender from the Receiver.
(5) The financial institution at which the Sender will be credited with the funds specified in field 34R.
(6) The code indicating the method by which the deal was agreed.
Narrative
On 23 January 1991, The Bank of Nova Scotia, Toronto, requests Chase Manhattan Bank, New York, to transfer funds value date 25 January 1991 from its account to the account of Morgan Guaranty Trust Company of New York, London, in settlement of the premium which the Bank of Nova Scotia, Toronto, needs to pay for the call option bought.
Information Flow
SWIFT Message
| Explanation |
Format |
|---|---|
| Sender |
|
| Message Type |
|
| Receiver |
|
| Message Text |
|
| Transaction Reference Number |
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| Related Reference
(1) |
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| Value Date/Currency/Amount |
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| Beneficiary Institution |
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| End of Message Text/Trailer |
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Narrative
On 31 May 2007, The Bank of Nova Scotia, Toronto, exercises its option to purchase the gold from Morgan Guaranty Trust Company of New York, London, as agreed 23 January 2007.
The Bank of Nova Scotia, Toronto, agrees, by telephone, to buy 5000 fine ounces of gold at the agreed strike price of US Dollars 410.50 per ounce, loco London, to be transferred to its account at Morgan Guaranty Trust Company of New York, London.
The Bank of Nova Scotia, Toronto, will transfer the consideration to the account of Morgan Guaranty Trust Company of New York, London, with Chase Manhattan Bank, New York.
Information Flow
SWIFT Message
From The Bank of Nova Scotia, Toronto:
| Explanation |
Format |
|---|---|
| Sender |
|
| Message Type |
|
| Receiver |
|
| Message Text |
|
| Transaction Reference Number |
|
| Related Reference
(1) |
|
| Code/Common Reference
(2) |
|
| Scope of Operation |
|
| Party A |
|
| Party B |
|
| Date Contract Agreed/Amended |
|
| Identification of the Commodity |
|
| Price Per Unit |
|
| Sender to Receiver Information |
|
| Quantity of the Commodity
(3) |
|
| Deliverer of the Commodity
(4) |
|
| Consideration
(5) |
|
| Account With Institution
(6) |
|
| End of Message Text/Trailer |
|
(1) The transaction reference number of the related MT 601.
(2) The code and common reference number identifying the message as a confirmation of a settlement of a commodity option which has been exercised.
(3) The unit and amount of commodity which has been purchased by the Sender from the Receiver.
(4) The financial institution where the Sender will receive the commodity bought.
(5) The value date, currency code and amount of the consideration paid by the Sender.
(6) The financial institution where the Receiver wants to receive the funds specified in field 34P.
