 Option S |
3!a2n[/4!n/4!c] |
(Rate Source)(Time and Location) |
Optional in conditional (see rule C9) sequence G
If this field is present, then the trigger is to be monitored at discrete times and not continuously. This field specifies the rate source for monitoring the trigger event of a discrete binary, digital or notouch option and includes an optional time and location for the monitoring.
Time must be a valid time expressed as HHMM (Error code(s): T38).
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.
For some cross currency triggers, 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
