PayoutBase
Type CDM 7.2.0A data type that contains the common attributes (e.g. payer and receiver parties) and validation conditions that apply across all payout types
Extends —
Extended by AssetPayoutCommodityPayoutCreditDefaultPayoutFixedPricePayoutInterestRatePayoutOptionPayout +2
Attributes 4
Namespace cdm.product.common.settlement
Attributes
All 4 declared on PayoutBase. Cardinality in amber is required.
| Name | Type | Card. | Description |
|---|---|---|---|
| payerReceiver | PayerReceiver | 1..1 | Canonical representation of the payer and receiver parties applicable to each payout leg. |
| 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). |
| 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. |
| 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. |
Conditions
Validation rules the model enforces on this type, in Rune. An instance that breaks one of these is invalid CDM, whatever produced it.
FinalPrincipalAmountExists Condition
When a final principal payment is specified, and as long as the quantity is not resettable, the amount of that principal payment (or its present value) must be provided. This condition is implemented at the Payout level and not on PrincipalPayment, because it needs to check whether the quantity may be resettable.
if principalPayment -> principalPaymentSchedule -> finalPrincipalPayment exists
and priceQuantity -> quantitySchedule exists
and priceQuantity -> reset is absent
then principalPayment -> principalPaymentSchedule -> finalPrincipalPayment -> principalAmount exists
or principalPayment -> principalPaymentSchedule -> finalPrincipalPayment -> presentValuePrincipalAmount existsOpen PayoutBase in the Model Browser
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