Documentation for Financial products Markup Language (FpML®)
Definition Type: Element
Name: spotRate
Namespace: http://www.fpml.org/FpML-5/confirmation
Type: nsA:PositiveDecimal
Containing Schema: fpml-fx-5-10.xsd
MinOccurs 0
MaxOccurs (1)
Abstract
Documentation:
An optional element used for FX forwards and certain types of FX OTC options. For deals consumated in the FX Forwards Market, this represents the current market rate for a particular currency pair. For barrier and digital/binary options, it can be useful to include the spot rate at the time the option was executed to make it easier to know whether the market rate needs to move "up" or "down" to trigger a barrier event.
Collapse XSD Schema Diagram:
XSD Diagram of spotRate in schema fpml-fx-5-10_xsd (Financial products Markup Language (FpML®))
Collapse XSD Schema Code: 
<xsd:element name="spotRate" type="PositiveDecimal" minOccurs="0">
    <xsd:annotation>
        <xsd:documentation xml:lang="en">An optional element used for FX forwards and certain types of FX OTC options. For deals consumated in the FX Forwards Market, this represents the current market rate for a particular currency pair. For barrier and digital/binary options, it can be useful to include the spot rate at the time the option was executed to make it easier to know whether the market rate needs to move "up" or "down" to trigger a barrier event.</xsd:documentation>
    </xsd:annotation>
</xsd:element>
Collapse Derivation Tree:
Documentation for Financial products Markup Language (FpML®)

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