AssetPayout

Type CDM 7.2.0

Security finance payout specification in case the product payout involves some form of security collateral, as in a securities financing transaction. Plus additional description for ICMA.

Extends PayoutBase

Extended by —

Attributes 9 (5 own)

Namespace cdm.product.template

Attributes

5 declared on AssetPayout, 4 inherited. Cardinality in amber is required.

Name	Type	Card.	Description	From
payerReceiver	PayerReceiver	1..1	Canonical representation of the payer and receiver parties applicable to each payout leg.	PayoutBase
priceQuantity	ResolvablePriceQuantity	0..1	Each payout leg must implement the quantity concept as a 'resolvable' type, which allows for different payout legs to be linked to each other (e.g. in the case of cross-curreny products).	PayoutBase
principalPayment	PrincipalPayments	0..1	The specification of the principal exchange. Optional as only applicable in the case of cross-currency or zero-coupon swaps with a final payment.	PayoutBase
settlementTerms	SettlementTerms	0..1	Each payout leg must specifies its settlement terms, including the delivery type (i.e. cash vs physical, and their respective terms), the transfer type (DvP etc.) and settlement date, if any.	PayoutBase
assetLeg	AssetLeg	1..*	Defines each asset movement as a buy/sell at different dates, typically 1 near leg and 1 far leg in a securities financing transaction.	—
underlier	Asset	1..1	Specifies the Purchased Asset, usually a Security.	—
minimumFee	Money	0..1	A contractual minimum amount which the borrower will pay, regardless of the duration of the loan. A mechanism for making sure that a trade generates enough income.	—
dividendTerms	DividendTerms	0..1	Specifies the terms under which dividends received by the borrower are passed through to the lender.	—
tradeType	AssetPayoutTradeTypeEnum	0..1	The trade type, eg repurchase transaction or buy/sell-back.	—

Conditions

Validation rules the model enforces on this type, in Rune. An instance that breaks one of these is invalid CDM, whatever produced it.

Quantity Condition

When there is an OptionPayout the quantity can be expressed as part of the payoutQuantity, or as part of the underlier in the case of a Swaption. For all other payouts that extend PayoutBase the payoutQuantity is a mandatory attribute.

priceQuantity exists

UnderlierNotCash Condition

The purchased asset in an assetPayout should not be cash.

underlier as Cash is absent

SettlementCentreRequired Condition

SettlementCentre required where underlier is a security.

if underlier as Security exists
then (settlementTerms -> securitySettlementCentre exists
        and settlementTerms -> cashSettlementCentre exists)

Functions

Model functions that produce or consume this type. These are the CDM's own behaviour — the logic a correct implementation has to match.

Function	Role	Description
AssetPayoutObligationsFulfilled	takes	Determines whether the obligations defined by the AssetPayout have been fulfilled by checking that the quantity of shares required have been successfully transferred.
Create_AssetReset	takes	Defines how to resolve the reset value for an equity payout.

In the product library

Canonical products whose JSON instantiates AssetPayout. Useful when you want to see the type populated rather than described.

Product	Asset class	Family
Listed Equity	Equity	Listed

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Parsed from CDM 7.2.0 · product-template-type.rosetta cdm.product.template