 Option S |
3!a2n[/4!n/4!c] |
(Rate Source)(Time and Location) |
Optional in mandatory sequence B
This field specifies the rate source for determining whether a physically-fixed deliverable option is to be auto-exercised or auto-expired.
Time must be a valid time expressed as HHMM (Error code(s): T38).
If this field is present and field 17F in sequence A contains 'N', then the confirmation is for a physically fixed deliverable option.
The values to be used for the settlement rate source are published in Annex A of the 1998 FX and Currency Option Definitions (the FX definitions, as published by the International Swaps and Derivatives Association, Inc., the Emerging Markets Traders Association and the Foreign Exchange Committee) as amended and supplemented from time to time.
Time and Location should only be populated if different from Time and Location in field 29E in sequence B.
For some cross currency NDOs two separate settlement rate sources may be quoted.
In subfield Time and Location, Location (4!c) consists of a two character ISO country code and a two character location code. The location code is made up as follows:
if the location name is one word, then the location code is the first two letters of the location name
if the location name consists of at least two words, then the location code is the first letter of the first word followed by the first letter of the second word
