Matthew, >> The best practise document requires a termination date. We have not included this as we could not identify a use for it. Your example for physical settlement includes a termination date. Is there another one you are referring to? <file:///C:\Temporary%20Internet%20Files\OLK72\msg_ex17_option_exercise_pa rtial.xml##> - <settlement> <file:///C:\Temporary%20Internet%20Files\OLK72\msg_ex17_option_exercise_pa rtial.xml##> - <physical> <effectiveDate>2005-03-15</effectiveDate> <terminationDate>2005-03-17</terminationDate> Guy _____ From: matthew.d.rawlings@xxxxxxxxxxxx [mailto:matthew.d.rawlings@jpmchase. com] Sent: Thursday, March 24, 2005 5:26 PM To: mwg@xxxxxxxxxxxxxxxxxxxxxx Cc: fpml-bpm@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Subject: FpML-MWG40 Option Exercise Dear Messaging Working Group members. As discussed in today's meeting, I wish to make the following proposal to the MWG for Option Exercise. It is based to a large extent on the ISDA Operations Working Groups's document for Best Practise for Option Exercise Documentation: <http://www.isda.org/c_and_a/docs/BPDocOptionsExercise.doc> http://www.isda.org/c_and_a/docs/BPDocOptionsExercise.doc Here is the modified schema (based on the latest from CVS), plus examples. Significiant points: 1. An option to be exercised is identified by the contract's tradeIdentifier. Implicitly this assumes that a contract has at most one option. This is currently always the case but may change. There is no way to specify more than one option currently. There is no way to identify an option independently of the contract. This may be revised if FpML in future supports multi-option contracts with identifiers for the options. 2. The best practise document requires a termination date. We have not included this as we could not identify a use for it. 3. Exercise time is not included, only a date. 4. The paper process includes an "exercise advice" which is a simple echo of the message. This is excluded from the FpML version as the working assumption is the transport mechanism is reliable. Matthew Rawlings +44 791 539 7824 This is a commercial communication sent by SwapsWire Limited. This message contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system. E-mail transmission cannot be guaranteed to be secure or error-free as information could be intercepted, corrupted, lost, destroyed, arrive late or incomplete, or contain viruses. The sender therefore does not accept liability for any errors or omissions in the contents of this message which arise as a result of e-mail transmission. If verification is required please request a hard-copy version. Please contact info@xxxxxxxxxxxxx if you no longer wish to receive commercial communications from us, identifying the email addresses to which you no longer wish commercial emails to be sent.
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