FpML Issues Tracker

Summary

Currently it seems may exist for SWAP and SWAPTION trade. My understanding is that :

For SWAPTION, early terminations can be done on time as well as date. i.e. The time matters as to when the SWAP can be exercised. Therefore it make sense to have within and .

For SWAP (or SWAP within SWAPTION), early termination can be done on date, not time. i.e. Time has no effect as it is the date which indicates on when the trade can be terminated early. Therefore it does not seem to make sense to have within and .

Please clarify if is used within and for SWAP (and SWAP within SWAPTION).