When we developed support for various exotic options in 2001 (like digitals), we didnt specifically differentiate between discrete and continuous options. What we did was supply a start and end date (observationStartDate and observationEndDate within fxAmericanTrigger), and then based upon the information source, this would determine whether the frequency of observation, during a day. That being said, it might be appropriate to specifically designate a discrete or continuous observation period within FpML, to more clearly describe this condition. Rick Schumacher (ex-chair of the FpML FX Working Group)
