 Option H |
6a[/8!n][//4!n] |
(Type of Agreement)(Date)(Version) |
Optional in mandatory sequence A
This field specifies the type of the agreement covering the transaction. It is followed by the date on which the agreement was signed and the version of the agreement.
Type of Agreement must contain one of the following codes (Error code(s): T47):
| AFB |
AFB Master Agreement |
| DERV |
Deutscher Rahmenvertrag für Finanztermingeschäfte |
| FBF |
Fédération Bancaire Française Master Agreement |
| FEOMA |
FEOMA Master Agreement |
| ICOM |
ICOM Master Agreement |
| IFEMA |
IFEMA Master Agreement |
| ISDA |
ISDA Master Agreement |
| ISDACN |
ISDA Master Agreement plus Additional Disruption Event Provisions for an Offshore Deliverable CNY Transaction |
| OTHER |
Another type of bilateral agreement signed up front between party A and party B. The agreement must be specified in field 72. |
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
Version must be a valid year expressed as YYYY (Error code(s): T50).
In a DERV and ISDA agreement, the absence of the second and third subfield means either that the information is not available or that the agreement is under negotiation.
When ICOM terms are used and when there is no signed agreement, the type should contain ICOM and both the date and the version should not be used.
In another agreement, Date and Version are optional.
The code OTHER must not be used in the case of an AFB, DERV, FEOMA, ICOM, IFEMA or ISDA Master Agreement.
Quoting the code ISDACN represents the contracts are bound by ISDA Master Agreement plus Additional Disruption Event Provisions for an Offshore Deliverable CNY transaction. In addition, the ISDA Additional Disruption Event Provisions requires certain details to be provided in a confirmation. For the purpose of the ISDA Additional Disruption Event Provisions, "Offshore CNY Centre" is the place of settlement or in the absence of any specific statement, Hong Kong. "Calculation Agent" referred to in the ISDA Additional Disruption Event Provisions is, unless otherwise specified in the applicable confirmation or in any separate written agreement between the parties, the Calculation Agent specified in the master agreement executed between the parties. In the absence of specific terms in the confirmation, any separate written agreement or the master agreement, (a) where each party in a transaction is a direct participant (or an affiliate of a direct participant), or neither party is a direct participant (or an affiliate of a direct participant), to the clearing system for offshore CNY at the place of settlement, both parties shall be Calculation Agents; or (b) in all other circumstances, only the party that is a direct participant (or an affiliate of a direct participant) to the clearing system for offshore CNY at the place of settlement shall be the Calculation Agent. If both parties are Calculation Agents and they are unable to agree on a determination, each party agrees to be bound by the determination of an independent leading dealer in the relevant type of transaction mutually selected by the parties, who shall act as the substitute Calculation Agent, with the fees and expenses of such substitute Calculation Agent (if any) to be met equally by the two parties. If the two parties are unable to agree on an independent leading dealer to act as substitute Calculation Agent, each party shall select an independent leading dealer, and such independent leading dealers shall agree on an independent third party who shall be deemed to be the substitute Calculation Agent.
If the "Offshore CNY Centre" is not Hong Kong, it can be specified in field 72 with code /PSET/ followed by a two letter country code, for example :72:/PSET/TW.
It is understood that the contents of field 72 may or may not be transported across related messages.
