Reverse Repo is a term used when the side that usually buys in the near leg instead sells it.
The fpml:Repo type explicitly specifies the buyer and seller on both the nearLeg and farLeg.
The productType would be Repo under productTypeScheme http://www.fpml.org/coding-scheme/product-type-simple
Repo is not in ISDA’s http://www.fpml.org/coding-scheme/product-taxonomy because it’s not an Over The Counter Derivative.
Some parties want to classify this as a different product to a Repo and can do so using a bespoke scheme.
1276: Repo vs Reverse Repo
