10.3 MT 305 Foreign Currency Option Confirmations

This topic describes the MT 305 Foreign Currency Option Confirmations.

This message type is exchanged between the financial institutions which have agreed to a foreign currency option contract. It is used to confirm the details of:

• a new contract between the parties
• an amendment to a previously agreed contract
• the cancellation of a confirmation
• the surrender of an option by the buyer (holder) to the seller (grantor) for compensation.

Maximum Length: 2000

Table 10-17 Format Specifications

Field Tag	Field Name	Format	Mandatory/Optional
15A	New Sequence		M
20	Transaction Reference Number	16x	M
21	Related Reference	16x	M
22	Code/Common Reference	8a/4!a2!c4!n4!a2!c	M
23	Further Identification	16x	M
94A	Scope of Operation	4!c	O
82a	Party A	A, , or J	M
87a	Party B	A, , or J	M
83a	Fund or Beneficiary Customer	A,, or J	O
30	Date Contract Agreed/Amended	6!n	M
31C	Earliest Exercise Date	6!n	O
31G	Expiry Details	6!n/4!n/12a	M
31E	Final Settlement Date	6!n	M
26F	Settlement Type	9a	M
32B	Underlying Currency and Amount	3!a15d	M
36	Strike Price	12d	M
33B	Counter Currency and Amount	3!a15d	M
37K	Premium Price	3!a12d	M
34a	Premium Payment	P or R	M
53a	Sender's Correspondent	A, B, or D	O
56a	Intermediary	A or D	O
57a	Account With Institution	A or D	M
77D	Terms and Conditions	6*35x	O
72	Sender to Receiver Information	6*35x	O