10.1.3 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.
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 |