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MT 306 Field Specifications

24. Field 17V: Buy (Sell) Indicator

FORMAT

Option V 1!a (Indicator)

PRESENCE

Mandatory in mandatory sequence B

DEFINITION

This field specifies whether party A is the buyer or the seller of the option.

CODES

Indicator must contain one of the following codes (Error code(s): T67):

B Buyer: party A pays the premium and receives the payout amount if applicable.
S Seller: party A receives the premium and pays the payout amount if applicable.