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See below response from Rick Schumacher, chair of the FX Working Group: I quickly looked at the FX Digital Option specification. I believe we have provisions to allow for more than one trigger, but we never did anything to differentiate between AND and OR conditions. (You can have multiple triggers and then have trigger values like TOUCH or NOTOUCH.) Examples 18 and 19 from the spec offer some examples. These essentially are AND conditions. An extension might be warranted to support this, but it would have to be fully analyzed. Rick ——————————————————————————– From: Marc Gratacos Sent: Tuesday, February 03, 2009 1:10 PM To: Rick Schumacher Subject: Questions of FX Options Hi Rick, I got a question on the forum and I need your help. See question below: [quote] ut08x4 wrote: FXDigitalOption and Range digitalOption Hi all, can someone tell me how to create a range digital option where the pay-off is equal to the notional when fixingAtMaturity is higher than B1 AND lower than B2? Is it OK to create an FxDigitalOption with two FxEuropeanTrigger? FxEuropeanTrigger(1): triggerCondition = Above, triggerRate = B1,… FxEuropeanTrigger(2): triggerCondition = Below, triggerRate = B2,… The second question is then, how to create a range digital option where the pay-off is equal to the notional when fixingAtMaturity is lower than B1 OR higher than B2[/quote] Rick, My understanding is that the fx digital option works as an ‘OR’ operator for all triggers, so if one gets hit, there is a payout. Should I recommend him to extend FpML if they need to include the ‘AND’ operator?? Thanks in advance, Marc