| @id | xsd:ID | | | | 1-1,
ncf | |
| initialPayment | InitialPayment | Specifies a single fixed payment that is payable by the payer to the receiver on the
initial payment date. The fixed payment to be paid is specified in terms of a known
currency amount. This element should be used for CDS Index trades and can be used
for CDS trades where it is necessary to represent a payment from Seller to Buyer.
For CDS trades where a payment is to be made from Buyer to Seller the feeLeg/singlePayment
structure must be used.
| Initial payment. | | 0-1 | |
| singlePayment | SinglePayment | Specifies a single fixed amount that is payable by the buyer to the seller on the
fixed rate payer payment date. The fixed amount to be paid is specified in terms of
a known currency amount.
| Single payment. | | 0-∞ | |
| periodicPayment | PeriodicPayment | Specifies a periodic schedule of fixed amounts that are payable by the buyer to the
seller on the fixed rate payer payment dates. The fixed amount to be paid on each
payment date can be specified in terms of a known currency amount or as an amount
calculated on a formula basis by reference to a per annum fixed rate. The applicable
business day convention and business day for adjusting any fixed rate payer payment
date if it would otherwise fall on a day that is not a business day are those specified
in the dateAdjustments element within the generalTerms component. ISDA 2003 Term:
| Periodic payment. | | 0-1 | |
| marketFixedRate | xsd:decimal | An optional element that only has meaning in a credit index trade. This element contains
the credit spread ("fair value") at which the trade was executed. Unlike the fixedRate
of an index, the marketFixedRate varies over the life of the index depending on market
conditions. The marketFixedRate is the price of the index as quoted by trading desks.
| Market fixed rate. | | 0-1,
ncf | At the first stage this element is not used in the repository messages. |
| paymentDelay | xsd:boolean | Applicable to CDS on MBS to specify whether payment delays are applicable to the fixed
Amount. RMBS typically have a payment delay of 5 days between the coupon date of the
reference obligation and the payment date of the synthetic swap. CMBS do not, on the
other hand, with both payment dates being on the 25th of each month.
| Payment delay. | | 0-1,
ncf | |
| initialPoints | xsd:decimal | An optional element that contains the up-front points expressed as a percentage of
the notional. An initialPoints value of 5% would be represented as 0.05. The initialPoints
element is an alternative to marketFixedRate in quoting the traded level of a trade.
When initialPoints is used, the traded level is the sum of fixedRate and initialPoints.
The initialPoints is one of the items that are factored into the initialPayment calculation
and is payable by the Buyer to the Seller. Note that initialPoints and marketFixedRate
may both be present in the same document when both implied values are desired.
| Initial points. | | 0-1,
ncf | |
| quotationStyle | QuotationStyleEnum | The type of quotation that was used between the trading desks. The purpose of this
element is to indicate the actual quotation style that was used to quote this trade
which may not be apparent when both marketFixedRate and initialPoints are included
in the document. When quotationStyle is ‘PointsUpFront’, the initialPoints element
should be populated. When quotationStyle is ‘TradedSpread’, the marketFixedRate element
should be populated.
| Quotation style. | | 0-1,
ncf | |