10.1.4 MT 306 Foreign Currency Option Confirmation
This topic describes the MT 306 Foreign Currency Option Confirmation.
This message is exchanged to confirm a foreign currency option contract, by
or on behalf of the institutions or corporate, party A and party B, which have agreed to
it. A money broker may also send this message to the two parties (party A and party B)
for which he arranged the deal. If there are two money brokers involved in arranging a
deal between party A and party B, this message can also be exchanged between these money
brokers. The message is used to confirm/notify the details of:
- a new contract between the parties
- an amendment to a previously agreed contract
- the cancellation of a confirmation a trigger event: knock-in/knock-out of an option, hitting of a trigger level
- the close out of an option
Table 10-18 Format Specifications: Mandatory Sequence A General Information
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 12G | Option Type | 4!c | O |
| 15A | New Sequence | Empty field | M |
| 20 | Sender's Reference | 16x | M |
| 21 | Related Reference | 16x | O |
| 22A | Type of Operation | 4!c | M |
| 94A | Scope of Operation | 4!c | O |
| 22C | Common Reference | 4!a2!c4!n4!a2!c | M |
| 21N | Contract Number Party A | 16x | M |
| 21B | Contract Number Party B | 16x | O |
| 12F | Option Style | 4!c | M |
| 12E | Expiration Style | 4!c | M |
| 17A | Barrier Indicator | 1!a | M |
| 17F | Non-Deliverable Indicator | 1!a | M |
| 22K | Type of Event | 4!c[/35x] | M |
| 30U | Date of Trigger Hit | 8!n | O |
| 29H | Location of Trigger Hit | 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 |
| 77H | Type, Date, Version of the Agreement | 6a[/8!n][//4!n] | M |
| 77D | Additional Conditions | 6*35x | O |
| 14C | Year of Definitions | 4!n | O |
Table 10-19 Mandatory Sequence B Transaction Details
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15B | New Sequence | Empty field | M |
| 17V | Buy (Sell) Indicator | 1!a | M |
| 30T | Trade Date | 8!n | M |
| 30X | Expiration Date | 8!n | M |
| 29E | Expiration Location and Time | 4!c/4!n | M |
| 30a | Final Settlement Date | F or J | M |
Table 10-20 Optional Sub-sequence B1 Premium Details
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 37K | Premium Price | 3!a12d | O |
| 30V | Premium Payment Date | 8!n | M |
| 34B | Premium Currency and Amount | 3!a15d | M |
Table 10-21 Optional Sub-sequence B2 Calculation Agent
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 84a | Calculation Agent | A, B, D, or J | O |
Table 10-22 Optional Sequence C Settlement Instructions for Payment of Premium
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15C | New Sequence | Empty field | M |
| 53a | Delivery Agent | A, , or J | O |
| 86a | Intermediary 2 | A, , or J | O |
| 56a | Intermediary | A, , or J | O |
| 57a | Receiving Agent | A, , or J | M |
| 58a | Beneficiary Institution | A, , or J | O |
Table 10-23 Optional Sequence D Vanilla Block
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15D | New Sequence | Empty field | M |
| 30P | Earliest Exercise Date | 8!n | O |
| 30Q | Intermediate Exercise Date | 8!n | O |
| 26F | Settlement Type | 9a | M |
| 32B | Put Currency and Amount | 3!a15d | M |
| 36 | Strike Price | 12d | M |
| 33B | Call Currency and Amount | 3!a15d | M |
Table 10-24 Optional Sequence E Payout Amount
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15E | New Sequence | Empty field | M |
| 33E | Currency, Amount | 3!a15d | M |
| 30H | Touch Payment Date | 8!n | O |
| 53a | Delivery Agent | A, or J | O |
| 86a | Intermediary 2 | A, or J | O |
| 56a | Intermediary | A, or J | O |
| 57a | Receiving Agent | A, or J | M |
| 58a | Beneficiary Institution | A, or J | O |
Table 10-25 Optional Sequence F Barrier Block
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15F | New Sequence | Empty field | M |
| 22G | Type of Barrier | 4!c | M |
| 37J | Barrier Level | 12d | M |
| 37L | Lower Barrier Level | 12d | O |
| 14M | Barrier Time Type | 4!c | M |
Table 10-26 Optional Sub-sequence F1 Barrier Window Block
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 30G | Barrier Window Start Date and End Date | 8!n/8!n | M |
| 29J | Location and Time for Start Date | 4!c[/4!n] | M |
| 29K | Location and Time for End Date | 4!c/4!n | M |
Table 10-27 Optional Sequence G Trigger Block
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15G | New Sequence | Empty field | M |
| 22J | Type of Trigger | 4!c | M |
| 37U | Trigger Level | 12d | M |
| 37P | Lower Trigger Level | 12d | O |
| 32Q | Currency Pair | 3!a/3!a | M |
Table 10-28 Optional Sequence H Non Deliverable Option Block
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15H | New Sequence | Empty field | M |
| 14S | Settlement Rate Source, Settlement Rate Location, Settlement Rate Time (HHMM) | 3!a2!n | M |
| 32E | Settlement Currency | 3!a | M |
Table 10-29 Optional Sequence I Additional Information
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15I | New Sequence | Empty field | M |
| 29A | Contact Information | 4*35x | O |
| 24D | Dealing Method | 4!c[/35x] | O |
| 88a | Broker Identification | A or D | O |
| 71F | Broker's Commission | 3!a15d | O |
| 21G | Broker's Reference | 16x | O |
| 72 | Sender to Receiver Information | 6*35x | O |
Table 10-30 Optional Sequence L Additional Amounts
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15J | New Sequence | Empty field | M |
| 18A | Number of Repetitions | 5n | M |
| 30F | Payment Date | 8!n | M |
| 32H | Currency, Payment Amount | [N]3!a15d | M |
| 53a | Delivery Agent | A, or J | O |
| 86a | Intermediary 2 | A, or J | O |
| 56a | Intermediary | A, or J | O |
| 57a | Receiving Agent | A, or J | M |
SWIFT 2023 Message Standards
Table 10-31 Format Specifications: Mandatory Sequence A General Information
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15A | New Sequence | Empty field | M |
| 20 | Sender's Reference | 16x | M |
| 21 | Related Reference | 16x | O |
| 22A | Type of Operation | 4!c | M |
| 94A | Scope of Operation | 4!c | O |
| 22C | Common Reference | 4!a2!c4!n4!a2!c | M |
| 21N | Contract Number Party A | 16x | M |
| 21B | Contract Number Party B | 16x | O |
| 12F | Option Style | 4!c | M |
| 12E | Expiration Style | 4!c | O |
| 12D | Option Type | 4!C | O |
| 17A | Barrier Indicator | 1!a | O |
| 17F | Non-Deliverable Indicator | 1!a | M |
| 22K | Type of Event | 4!c[/35x] | M |
| 30U | Date of Barrier Event | 8!n | O |
| 29H | Location of Barrier Event | 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 |
| 77H | Type, Date, Version of the Agreement | 6a[/8!n][//4!n] | M |
| 77D | Additional Conditions | 6*35x | O |
| 14C | Year of Definitions | 4!n | O |
Table 10-32 Mandatory Sequence B Transaction Details
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15B | New Sequence | Empty field | M |
| 17V | Buy (Sell) Indicator | 1!a | M |
| 30T | Trade Date | 8!n | M |
| 30X | Expiration or Valuation Date | 8!n | M |
| 29E | Expiration or Valuation Location and Time | 4!c/4!n | M |
| 30a | Final Settlement Date | F or J | M |
| 14S | Settlement Rate Source | 3!a2n[/4!n/4!c] | O |
| 39M | Payment Clearing Centre | 2!a | O |
Table 10-33 Optional Sub-sequence B1 Premium Details
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 37K | Premium Price | 3!a12d | O |
| 30V | Premium Payment Date | 8!n | M |
| 34B | Premium Currency and Amount | 3!a15d | M |
Table 10-34 Optional Sub-sequence B2 Calculation Agent
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 84a | Calculation Agent | A, B, D, or J | M |
Table 10-35 Optional Sequence C Settlement Instructions for Payment of Premium
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15C | New Sequence | Empty field | M |
| 53a | Delivery Agent | A or J | O |
| 86a | Intermediary 2 | A or J | O |
| 56a | Intermediary | A or J | O |
| 57a | Receiving Agent | A or J | M |
| 58a | Beneficiary Institution | A or Jl | O |
Table 10-36 Optional Sequence D Vanilla Block
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15D | New Sequence | Empty field | M |
| 30P | Earliest Exercise Date | 8!n | O |
| 30Q | Intermediate Exercise Date | 8!n | O |
| 26F | Settlement Type | 9a | M |
| 32B | Put Currency and Amount | 3!a15d | M |
| 36 | Strike Price | 12d | M |
| 33B | Call Currency and Amount | 3!a15d | M |
Table 10-37 Optional Sequence E Binary Payout Amount
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15E | New Sequence | Empty field | M |
| 33E | Currency, Amount | 3!a15d | M |
| 53a | Delivery Agent | A or J | O |
| 86a | Intermediary 2 | A or J | O |
| 56a | Intermediary | A or J | O |
| 57a | Receiving Agent | A or J | M |
| 58a | Beneficiary Institution | A or J | O |
Table 10-38 Optional Sequence F Barrier Block
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15F | New Sequence | Empty field | M |
| 22G | Type of Barrier | 4!c | M |
| 17C | Barrier Event Equal Modifier | 1!a | O |
| 37J | Barrier Level | 12d | M |
| 37L | Lower Barrier Level | 12d | O |
| 14S | Barrier Settlement Rate Source | 3!a2n[/4!n/4!c] | O |
| 29I | Barrier Determination Business Days | 4!c | O |
| 14H | All Barrier Dates Business Day Convention | 4!c | O |
| 14K | Interim Barrier Dates Business Day Convention | 4!c | O |
| 14L | Barrier Event End Date Business Day Convention | 4!c | O |
| 14M | Barrier Time Type | 4!c | M |
| 29O | Continuous Time Period | 4!c/4!n4!n | O |
| 14N | Spot Market | 4!c | O |
| 29J | Barrier Event Determination Time | 4!c/4!n | O |
| 14O | Barrier Event Determination Time Source | 4!c | O |
| 33Z | Rebate Amount | 15d | O |
| 30a | Rebate Amount Payment Date | F or J | O |
| 84a | Barrier Determination Agent | A, B, D, or J | O |
Table 10-39 Optional Sub-sequence F1 Barrier Window Block
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 30I | Barrier Monitoring Period | 8!n[/8!n] | M |
Table 10-40 Optional Sequence G Binary Block
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15G | New Sequence | Empty field | M |
| 32Q | Currency Pair | 3!a/3!a | M |
Table 10-41 Optional Sequence H Non Deliverable Option Block
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15H | New Sequence | Empty field | M |
| 32E | Settlement Currency | 3!a | M |
| 26K | Calculation Agent | 4!c | O |
| 35C | Digital Token Identifier | 9x[/30x] | O |
Table 10-42 Optional Sequence I Early Termination
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15I | New Sequence | Empty field | M |
| 12G | Early Termination Style | 4!c | M |
| 30T | Early Termination Date | 8!n | O |
| 22Y | Frequency of Early Termination | 4!c | O |
| 85a | Exercising Party | A, D, or J | O |
| 88a | Non-Exercising Party | A, D, or J | O |
| 84a | Calculation Agent | A, B, D, or J | M |
| 30Y | Commencement Date | 8!n | O |
| 29L | Expiry Details | 8!n/4!c/4!n | O |
| 29E | Earliest Exercise Time | 4!c/4!n | O |
| 29M | Latest Exercise Time | 4!c/4!n | O |
| 17I | Cash Settlement | 1!a | O |
| 29N | Cash Settlement Valuation Details | 8!n/4!c/4!n | O |
| 30Z | Cash Settlement Payment Date | 8!n | O |
| 14S | Settlement Rate Source | 3!a2n[/4!n/4!c] | O |
Table 10-43 Optional Sequence L Additional Amounts
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15J | New Sequence | Empty field | M |
| 18A | Number of Repetitions | 5n | M |
| 30F | Payment Date | 8!n | M |
| 32H | Currency, Payment Amount | [N]3!a15d | M |
| 53a | Delivery Agent | A or J | O |
| 86a | Intermediary 2 | A or J | O |
| 56a | Intermediary | A or J | O |
| 57a | Receiving Agent | A or J | M |