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MT 360 Field Specifications

24. Field 37M: Fixed Rate

FORMAT

Option M [N]12d (Sign)(Rate)

PRESENCE

Conditional (see rule C16) in conditional (see rule C10) sequence B

DEFINITION

This field specifies the fixed rate.

For an ISDA Master (Type in field 77H is ISDA), this field specifies the Fixed Rate as per ISDA definitions.

NETWORK VALIDATED RULES

If Rate is zero, Sign must not be present (Error code(s): T14).

The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximum length (Error code(s): T40,T43).

USAGE RULES

Rate is expressed as a percentage.