MT 360 Field Specifications

39. Field 14J: Reset Date Specification

FORMAT

Option J

5a

PRESENCE

Mandatory in conditional (see rule C16) subsequence C1

DEFINITION

This field specifies when the floating rate will be reset.

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

CODES

One of the following codes must be used (Error code(s): T36):

FIRST	The reset date is the first day of the calculation period, or compounding period for a compounding swap.
LAST	The reset date is the last day of the calculation period, or compounding period for a compounding swap.
OTHER	The reset date is specified in field 37N of the same sequence, or compounding period for a compounding swap.

USAGE RULES

For OIS trades, this field must contain OTHER.