# FpML 4.2 Trial Recommendation

## 10 September 2021

## Pricing and Risk Shared Component Definitions

### Version: 4.2

### This Version:

> http://www.fpml.org/spec/fpml-4-2-13-tr-6

### Latest Version:

> http://www.fpml.org/spec/fpml-4-2-13-tr-6

### Previous Version:

> https://www.fpml.org/spec/fpml-4-2-12-rec-2/

### Errata for this Version:

> http://www.fpml.org/spec/errata/fpml-4-2-13-tr-6-errata.html

Document built: Thu 09/09/2021 16:55:34.67

Copyright (c) 1999 - 2006 by INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION, INC.
Financial Products Markup Language is subject to the FpML public license
A copy of this license is available at http://www.fpml.org/documents/license.html

The FpML specifications provided are without warranty of any kind, either expressed or implied, including, without limitation, warranties that FpML, or the FpML specifications are free of defects, merchantable, fit for a particular purpose or non-infringing. The entire risk as to the quality and performance of the specifications is with you. Should any of the FpML specifications prove defective in any respect, you assume the cost of any necessary servicing or repair. Under no circumstances and under no legal theory, whether tort (including negligence), contract, or otherwise, shall ISDA, any of its members, or any distributor of documents or software containing any of the FpML specifications, or any supplier of any of such parties, be liable to you or any other person for any indirect, special, incidental, or consequential damages of any character including, without limitation, damages for loss of goodwill, work stoppage, computer failure or malfunction, or any and all other commercial damages or losses, even if such party shall have been informed of the possibility of such damages.

# Contents

  Global Simple Types
  Global Complex Types
    AnyAssetReference
    AssetMeasureType
    BasicAssetValuation
    BasicQuotation
    PriceQuoteUnits
    QuotationCharacteristics
    QuoteTiming
    Valuation
    ValuationReference
  Global Elements
  Groups
    Quotation.model
    QuotationCharacteristics.model
    QuoteLocation.model
  Schema Listing

# Global Simple Types

The schema does not contain any global simple types.

# Global Complex Types

## AnyAssetReference

### Description:

A reference to an asset, e.g. a portfolio, trade, or reference instrument..

### Figure:

### Contents:

Inherited element(s): (This definition inherits the content defined by the type Reference)

- Specifies the anchor as an href attribute. The href attribute value is a pointer style reference to the element or component elsewhere in the document where the anchor is defined.

### Used by:

- PricingMethod/assetReference
- ScheduledDate/assetReference
- Valuation/objectReference
- VolatilityRepresentation/asset

### Extension of:

- Reference

### Schema Fragment:

    <xsd:complexType name="AnyAssetReference">
      <xsd:annotation>
        <xsd:documentation xml:lang="en">
          A reference to an asset, e.g. a portfolio, trade, or reference
          instrument..
        </xsd:documentation>
      </xsd:annotation>
      <xsd:complexContent>
        <xsd:extension base="Reference"/>
      </xsd:complexContent>
    </xsd:complexType>

## AssetMeasureType

### Description:

A scheme identifying the types of measures that can be used to describe an asset.

### Figure:

### Contents:

Inherited element(s): (This definition inherits the content defined by the type xsd:normalizedString)

Attribute: assetMeasureScheme (xsd:anyURI)

### Used by:

### Schema Fragment:

    <xsd:complexType name="AssetMeasureType">
      <xsd:annotation>
        <xsd:documentation xml:lang="en">
          A scheme identifying the types of measures that can be used to
          describe an asset.
        </xsd:documentation>
      </xsd:annotation>
      <xsd:simpleContent>
        <xsd:extension base="xsd:normalizedString">
          <xsd:attribute name="assetMeasureScheme" default="http://www.fpml.org/coding-scheme/asset-measure-5-0" type="xsd:anyURI"/>
        </xsd:extension>
      </xsd:simpleContent>
    </xsd:complexType>

## BasicAssetValuation

### Description:

A structure that holds a set of measures about an asset.

### Figure:

### Contents:

Inherited element(s): (This definition inherits the content defined by the type Valuation)

- A valuation of an valuable object - an asset or a pricing input. This is an abstract type, used as a base for values of pricing structures such as yield curves as well as asset values.

quote (one or more occurrences; of the type BasicQuotation)

- One or more numerical measures relating to the asset, possibly together with sensitivities of that measure to pricing inputs

### Used by:

- QuotedAssetSet/assetQuote

### Extension of:

- Valuation

### Schema Fragment:

    <xsd:complexType name="BasicAssetValuation">
      <xsd:annotation>
        <xsd:documentation xml:lang="en">
          A structure that holds a set of measures about an asset.
        </xsd:documentation>
      </xsd:annotation>
      <xsd:complexContent>
        <xsd:extension base="Valuation">
          <xsd:sequence>
            <xsd:element name="quote" type="BasicQuotation" maxOccurs="unbounded">
              <xsd:annotation>
                <xsd:documentation xml:lang="en">
                  One or more numerical measures relating to the asset,
                  possibly together with sensitivities of that measure to
                  pricing inputs
                </xsd:documentation>
              </xsd:annotation>
            </xsd:element>
          </xsd:sequence>
        </xsd:extension>
      </xsd:complexContent>
    </xsd:complexType>

## BasicQuotation

### Description:

Some kind of numerical measure about an asset, eg. its NPV, together with characteristics of that measure.

### Figure:

### Contents:

value (zero or one occurrence; of the type xsd:decimal)

- The value of the the quotation.

measureType (zero or one occurrence; of the type AssetMeasureType)

- The type of the value that is measured. This could be an NPV, a cash flow, a clean price, etc.

quoteUnits (zero or one occurrence; of the type PriceQuoteUnits)

- The optional units that the measure is expressed in. If not supplied, this is assumed to be a price/value in currency units.

side (zero or one occurrence; of the type QuotationSideEnum)

- The side (bid/mid/ask) of the measure.

currency (zero or one occurrence; of the type Currency)

- The optional currency that the measure is expressed in. If not supplied, this is defaulted from the reportingCurrency in the valuationScenarioDefinition.

timing (zero or one occurrence; of the type QuoteTiming)

- When during a day the quote is for. Typically, if this element is supplied, the QuoteLocation needs also to be supplied.

There can be one occurance of the following structure; Choice of either

businessCenter (exactly one occurrence; of the type BusinessCenter)

- A city or other business center.

Or

exchangeId (exactly one occurrence; of the type ExchangeId)

- The exchange (e.g. stock or futures exchange) from which the quote is obtained.

informationSource (zero or more occurrences; of the type InformationSource)

- The information source where a published or displayed market rate will be obtained, e.g. Telerate Page 3750.

time (zero or one occurrence; of the type xsd:dateTime)

- When the quote was observed or derived.

valuationDate (zero or one occurrence; of the type xsd:date)

- When the quote was computed.

expiryTime (zero or one occurrence; of the type xsd:dateTime)

- When does the quote cease to be valid.

cashFlowType (zero or one occurrence; of the type CashflowType)

- For cash flows, the type of the cash flows. Examples include: Coupon payment, Premium Fee, Settlement Fee, Brokerage Fee, etc.

### Used by:

- BasicAssetValuation/quote
- CashflowObservation/observedValue

### Schema Fragment:

    <xsd:complexType name="BasicQuotation">
      <xsd:annotation>
        <xsd:documentation xml:lang="en">
          Some kind of numerical measure about an asset, eg. its NPV,
          together with characteristics of that measure.
        </xsd:documentation>
      </xsd:annotation>
      <xsd:sequence>
        <xsd:group ref="Quotation.model"/>
      </xsd:sequence>
    </xsd:complexType>

## PriceQuoteUnits

### Description:

The units in which a price is quoted.

### Figure:

### Contents:

Inherited element(s): (This definition inherits the content defined by the type xsd:normalizedString)

Attribute: priceQuoteUnitsScheme (xsd:anyURI)

### Used by:

- ParametricAdjustment/inputUnits
- PricingParameterShift/shiftUnits

### Schema Fragment:

    <xsd:complexType name="PriceQuoteUnits">
      <xsd:annotation>
        <xsd:documentation source="http://www.FpML.org" xml:lang="en">
          The units in which a price is quoted.
        </xsd:documentation>
      </xsd:annotation>
      <xsd:simpleContent>
        <xsd:extension base="xsd:normalizedString">
          <xsd:attribute name="priceQuoteUnitsScheme" type="xsd:anyURI" default="http://www.fpml.org/coding-scheme/price-quote-units-1-0"/>
        </xsd:extension>
      </xsd:simpleContent>
    </xsd:complexType>

## QuotationCharacteristics

### Description:

A type representing a set of characteristics that describe a quotation.

### Figure:

### Contents:

measureType (zero or one occurrence; of the type AssetMeasureType)

- The type of the value that is measured. This could be an NPV, a cash flow, a clean price, etc.

quoteUnits (zero or one occurrence; of the type PriceQuoteUnits)

- The optional units that the measure is expressed in. If not supplied, this is assumed to be a price/value in currency units.

side (zero or one occurrence; of the type QuotationSideEnum)

- The side (bid/mid/ask) of the measure.

currency (zero or one occurrence; of the type Currency)

- The optional currency that the measure is expressed in. If not supplied, this is defaulted from the reportingCurrency in the valuationScenarioDefinition.

timing (zero or one occurrence; of the type QuoteTiming)

- When during a day the quote is for. Typically, if this element is supplied, the QuoteLocation needs also to be supplied.

There can be one occurance of the following structure; Choice of either

businessCenter (exactly one occurrence; of the type BusinessCenter)

- A city or other business center.

Or

exchangeId (exactly one occurrence; of the type ExchangeId)

- The exchange (e.g. stock or futures exchange) from which the quote is obtained.

informationSource (zero or more occurrences; of the type InformationSource)

- The information source where a published or displayed market rate will be obtained, e.g. Telerate Page 3750.

time (zero or one occurrence; of the type xsd:dateTime)

- When the quote was observed or derived.

valuationDate (zero or one occurrence; of the type xsd:date)

- When the quote was computed.

expiryTime (zero or one occurrence; of the type xsd:dateTime)

- When does the quote cease to be valid.

cashFlowType (zero or one occurrence; of the type CashflowType)

- For cash flows, the type of the cash flows. Examples include: Coupon payment, Premium Fee, Settlement Fee, Brokerage Fee, etc.

### Used by:

- PositionReport/quotationCharacteristics
- Price/quotationCharacteristics
- SensitivitySetDefinition/sensitivityCharacteristics
- ValuationSet/quotationCharacteristics

### Schema Fragment:

    <xsd:complexType name="QuotationCharacteristics">
      <xsd:annotation>
        <xsd:documentation xml:lang="en">
          A type representing a set of characteristics that describe a
          quotation.
        </xsd:documentation>
      </xsd:annotation>
      <xsd:sequence>
        <xsd:group ref="QuotationCharacteristics.model"/>
      </xsd:sequence>
    </xsd:complexType>

## QuoteTiming

### Description:

The type of the time of the quote.

### Figure:

### Contents:

Inherited element(s): (This definition inherits the content defined by the type xsd:normalizedString)

Attribute: quoteTimingScheme (xsd:anyURI)

### Used by:

### Schema Fragment:

    <xsd:complexType name="QuoteTiming">
      <xsd:annotation>
        <xsd:documentation source="http://www.FpML.org" xml:lang="en">
          The type of the time of the quote.
        </xsd:documentation>
      </xsd:annotation>
      <xsd:simpleContent>
        <xsd:extension base="xsd:normalizedString">
          <xsd:attribute name="quoteTimingScheme" type="xsd:anyURI" default="http://www.fpml.org/coding-scheme/quote-timing-1-0"/>
        </xsd:extension>
      </xsd:simpleContent>
    </xsd:complexType>

## Valuation

### Description:

A valuation of an valuable object - an asset or a pricing input. This is an abstract type, used as a base for values of pricing structures such as yield curves as well as asset values.

### Figure:

### Contents:

objectReference (exactly one occurrence; of the type AnyAssetReference)

- A reference to the asset or pricing structure that this values.

valuationScenarioReference (zero or one occurrence; of the type ValuationScenarioReference)

- A reference to the valuation scenario used to calculate this valuation. If the Valuation occurs within a ValuationSet, this value is optional and is defaulted from the ValuationSet. If this value occurs in both places, the lower level value (i.e. the one here) overrides that in the higher (i.e. ValuationSet).

Attribute: id (xsd:ID)

Attribute: definitionRef (xsd:IDREF)

### Used by:

### Derived Types:

- AssetValuation
- BasicAssetValuation
- PricingStructureValuation

### Schema Fragment:

    <xsd:complexType name="Valuation">
      <xsd:annotation>
        <xsd:documentation xml:lang="en">
          A valuation of an valuable object - an asset or a pricing input.
          This is an abstract type, used as a base for values of pricing
          structures such as yield curves as well as asset values.
        </xsd:documentation>
      </xsd:annotation>
      <xsd:sequence>
        <xsd:element name="objectReference" type="AnyAssetReference">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              A reference to the asset or pricing structure that this
              values.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:element>
        <xsd:element name="valuationScenarioReference" type="ValuationScenarioReference" minOccurs="0">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              A reference to the valuation scenario used to calculate this
              valuation. If the Valuation occurs within a ValuationSet,
              this value is optional and is defaulted from the
              ValuationSet. If this value occurs in both places, the lower
              level value (i.e. the one here) overrides that in the higher
              (i.e. ValuationSet).
            </xsd:documentation>
          </xsd:annotation>
        </xsd:element>
      </xsd:sequence>
      <xsd:attribute name="id" type="xsd:ID"/>
      <xsd:attribute name="definitionRef" type="xsd:IDREF">
        <xsd:annotation>
          <xsd:documentation xml:lang="en">
            An optional reference to the scenario that this valuation
            applies to.
          </xsd:documentation>
        </xsd:annotation>
      </xsd:attribute>
    </xsd:complexType>

## ValuationReference

### Description:

Reference to a Valuation or any derived structure such as PricingStructureValuation.

### Figure:

### Contents:

Inherited element(s): (This definition inherits the content defined by the type Reference)

- Specifies the anchor as an href attribute. The href attribute value is a pointer style reference to the element or component elsewhere in the document where the anchor is defined.

### Used by:

- PricingParameterDerivative/inputDateReference

### Extension of:

- Reference

### Schema Fragment:

    <xsd:complexType name="ValuationReference">
      <xsd:annotation>
        <xsd:documentation xml:lang="en">
          Reference to a Valuation or any derived structure such as
          PricingStructureValuation.
        </xsd:documentation>
      </xsd:annotation>
      <xsd:complexContent>
        <xsd:extension base="Reference"/>
      </xsd:complexContent>
    </xsd:complexType>

# Global Elements

The schema does not contain any global elements.

# Groups

## Quotation.model

### Description:

Some kind of numerical measure about an asset, eg. its price or NPV, together with characteristics of that measure.

### Figure:

### Contents:

value (zero or one occurrence; of the type xsd:decimal)

- The value of the the quotation.

measureType (zero or one occurrence; of the type AssetMeasureType)

- The type of the value that is measured. This could be an NPV, a cash flow, a clean price, etc.

quoteUnits (zero or one occurrence; of the type PriceQuoteUnits)

- The optional units that the measure is expressed in. If not supplied, this is assumed to be a price/value in currency units.

side (zero or one occurrence; of the type QuotationSideEnum)

- The side (bid/mid/ask) of the measure.

currency (zero or one occurrence; of the type Currency)

- The optional currency that the measure is expressed in. If not supplied, this is defaulted from the reportingCurrency in the valuationScenarioDefinition.

timing (zero or one occurrence; of the type QuoteTiming)

- When during a day the quote is for. Typically, if this element is supplied, the QuoteLocation needs also to be supplied.

There can be one occurance of the following structure; Choice of either

businessCenter (exactly one occurrence; of the type BusinessCenter)

- A city or other business center.

Or

exchangeId (exactly one occurrence; of the type ExchangeId)

- The exchange (e.g. stock or futures exchange) from which the quote is obtained.

informationSource (zero or more occurrences; of the type InformationSource)

- The information source where a published or displayed market rate will be obtained, e.g. Telerate Page 3750.

time (zero or one occurrence; of the type xsd:dateTime)

- When the quote was observed or derived.

valuationDate (zero or one occurrence; of the type xsd:date)

- When the quote was computed.

expiryTime (zero or one occurrence; of the type xsd:dateTime)

- When does the quote cease to be valid.

cashFlowType (zero or one occurrence; of the type CashflowType)

- For cash flows, the type of the cash flows. Examples include: Coupon payment, Premium Fee, Settlement Fee, Brokerage Fee, etc.

### Used by:

- BasicQuotation
- PricingStructurePoint
- Quotation

### Schema Fragment:

    <xsd:group name="Quotation.model">
      <xsd:annotation>
        <xsd:documentation xml:lang="en">
          Some kind of numerical measure about an asset, eg. its price or
          NPV, together with characteristics of that measure.
        </xsd:documentation>
      </xsd:annotation>
      <xsd:sequence>
        <xsd:element name="value" type="xsd:decimal" minOccurs="0">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              The value of the the quotation.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:element>
        <xsd:group ref="QuotationCharacteristics.model">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              The characteristics of the quotation.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:group>
      </xsd:sequence>
    </xsd:group>

## QuotationCharacteristics.model

### Description:

A group collecting a set of characteristics that can be used to describe a quotation.

### Figure:

### Contents:

measureType (zero or one occurrence; of the type AssetMeasureType)

- The type of the value that is measured. This could be an NPV, a cash flow, a clean price, etc.

quoteUnits (zero or one occurrence; of the type PriceQuoteUnits)

- The optional units that the measure is expressed in. If not supplied, this is assumed to be a price/value in currency units.

side (zero or one occurrence; of the type QuotationSideEnum)

- The side (bid/mid/ask) of the measure.

currency (zero or one occurrence; of the type Currency)

- The optional currency that the measure is expressed in. If not supplied, this is defaulted from the reportingCurrency in the valuationScenarioDefinition.

timing (zero or one occurrence; of the type QuoteTiming)

- When during a day the quote is for. Typically, if this element is supplied, the QuoteLocation needs also to be supplied.

There can be one occurance of the following structure; Choice of either

businessCenter (exactly one occurrence; of the type BusinessCenter)

- A city or other business center.

Or

exchangeId (exactly one occurrence; of the type ExchangeId)

- The exchange (e.g. stock or futures exchange) from which the quote is obtained.

informationSource (zero or more occurrences; of the type InformationSource)

- The information source where a published or displayed market rate will be obtained, e.g. Telerate Page 3750.

time (zero or one occurrence; of the type xsd:dateTime)

- When the quote was observed or derived.

valuationDate (zero or one occurrence; of the type xsd:date)

- When the quote was computed.

expiryTime (zero or one occurrence; of the type xsd:dateTime)

- When does the quote cease to be valid.

cashFlowType (zero or one occurrence; of the type CashflowType)

- For cash flows, the type of the cash flows. Examples include: Coupon payment, Premium Fee, Settlement Fee, Brokerage Fee, etc.

### Used by:

- MultiDimensionalPricingData
- QuotationCharacteristics

### Schema Fragment:

    <xsd:group name="QuotationCharacteristics.model">
      <xsd:annotation>
        <xsd:documentation xml:lang="en">
          A group collecting a set of characteristics that can be used to
          describe a quotation.
        </xsd:documentation>
      </xsd:annotation>
      <xsd:sequence>
        <xsd:element name="measureType" type="AssetMeasureType" minOccurs="0">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              The type of the value that is measured. This could be an NPV,
              a cash flow, a clean price, etc.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:element>
        <xsd:element name="quoteUnits" type="PriceQuoteUnits" minOccurs="0">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              The optional units that the measure is expressed in. If not
              supplied, this is assumed to be a price/value in currency
              units.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:element>
        <xsd:element name="side" type="QuotationSideEnum" minOccurs="0">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              The side (bid/mid/ask) of the measure.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:element>
        <xsd:element name="currency" type="Currency" minOccurs="0">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              The optional currency that the measure is expressed in. If
              not supplied, this is defaulted from the reportingCurrency in
              the valuationScenarioDefinition.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:element>
        <xsd:element name="timing" type="QuoteTiming" minOccurs="0">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              When during a day the quote is for. Typically, if this
              element is supplied, the QuoteLocation needs also to be
              supplied.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:element>
        <xsd:group ref="QuoteLocation.model" minOccurs="0">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              Where the quote is from.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:group>
        <xsd:element name="informationSource" type="InformationSource" minOccurs="0" maxOccurs="unbounded">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              The information source where a published or displayed market
              rate will be obtained, e.g. Telerate Page 3750.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:element>
        <xsd:element name="time" type="xsd:dateTime" minOccurs="0">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              When the quote was observed or derived.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:element>
        <xsd:element name="valuationDate" type="xsd:date" minOccurs="0">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              When the quote was computed.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:element>
        <xsd:element name="expiryTime" type="xsd:dateTime" minOccurs="0">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              When does the quote cease to be valid.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:element>
        <xsd:element name="cashFlowType" type="CashflowType" minOccurs="0">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              For cash flows, the type of the cash flows. Examples include:
              Coupon payment, Premium Fee, Settlement Fee, Brokerage Fee,
              etc.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:element>
      </xsd:sequence>
    </xsd:group>

## QuoteLocation.model

### Description:

A group describing where a quote was or will be obtained, e.g. observed or calculated.

### Figure:

### Contents:

There can be one occurance of the following structure; Choice of either

businessCenter (exactly one occurrence; of the type BusinessCenter)

- A city or other business center.

Or

exchangeId (exactly one occurrence; of the type ExchangeId)

- The exchange (e.g. stock or futures exchange) from which the quote is obtained.

### Used by:

### Schema Fragment:

    <xsd:group name="QuoteLocation.model">
      <xsd:annotation>
        <xsd:documentation xml:lang="en">
          A group describing where a quote was or will be obtained, e.g.
          observed or calculated.
        </xsd:documentation>
      </xsd:annotation>
      <xsd:choice>
        <xsd:element name="businessCenter" type="BusinessCenter">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              A city or other business center.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:element>
        <xsd:element name="exchangeId" type="ExchangeId">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              The exchange (e.g. stock or futures exchange) from which the
              quote is obtained.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:element>
      </xsd:choice>
    </xsd:group>

# Full XML Schema

    <xsd:schema targetNamespace="http://www.fpml.org/2005/FpML-4-2" elementFormDefault="qualified" attributeFormDefault="unqualified" version="$Revision: 884 $">
      <xsd:include schemaLocation="fpml-shared-4-2.xsd"/>
      <xsd:complexType name="AnyAssetReference">
        <xsd:annotation>
          <xsd:documentation xml:lang="en">
            A reference to an asset, e.g. a portfolio, trade, or reference
            instrument..
          </xsd:documentation>
        </xsd:annotation>
        <xsd:complexContent>
          <xsd:extension base="Reference"/>
        </xsd:complexContent>
      </xsd:complexType>
      <xsd:complexType name="AssetMeasureType">
        <xsd:annotation>
          <xsd:documentation xml:lang="en">
            A scheme identifying the types of measures that can be used to
            describe an asset.
          </xsd:documentation>
        </xsd:annotation>
        <xsd:simpleContent>
          <xsd:extension base="xsd:normalizedString">
            <xsd:attribute name="assetMeasureScheme" default="http://www.fpml.org/coding-scheme/asset-measure-5-0" type="xsd:anyURI"/>
          </xsd:extension>
        </xsd:simpleContent>
      </xsd:complexType>
      <xsd:complexType name="BasicAssetValuation">
        <xsd:annotation>
          <xsd:documentation xml:lang="en">
            A structure that holds a set of measures about an asset.
          </xsd:documentation>
        </xsd:annotation>
        <xsd:complexContent>
          <xsd:extension base="Valuation">
            <xsd:sequence>
              <xsd:element name="quote" type="BasicQuotation" maxOccurs="unbounded">
                <xsd:annotation>
                  <xsd:documentation xml:lang="en">
                    One or more numerical measures relating to the asset,
                    possibly together with sensitivities of that measure to
                    pricing inputs
                  </xsd:documentation>
                </xsd:annotation>
              </xsd:element>
            </xsd:sequence>
          </xsd:extension>
        </xsd:complexContent>
      </xsd:complexType>
      <xsd:complexType name="BasicQuotation">
        <xsd:annotation>
          <xsd:documentation xml:lang="en">
            Some kind of numerical measure about an asset, eg. its NPV,
            together with characteristics of that measure.
          </xsd:documentation>
        </xsd:annotation>
        <xsd:sequence>
          <xsd:group ref="Quotation.model"/>
        </xsd:sequence>
      </xsd:complexType>
      <xsd:complexType name="PriceQuoteUnits">
        <xsd:annotation>
          <xsd:documentation source="http://www.FpML.org" xml:lang="en">
            The units in which a price is quoted.
          </xsd:documentation>
        </xsd:annotation>
        <xsd:simpleContent>
          <xsd:extension base="xsd:normalizedString">
            <xsd:attribute name="priceQuoteUnitsScheme" type="xsd:anyURI" default="http://www.fpml.org/coding-scheme/price-quote-units-1-0"/>
          </xsd:extension>
        </xsd:simpleContent>
      </xsd:complexType>
      <xsd:complexType name="QuotationCharacteristics">
        <xsd:annotation>
          <xsd:documentation xml:lang="en">
            A type representing a set of characteristics that describe a
            quotation.
          </xsd:documentation>
        </xsd:annotation>
        <xsd:sequence>
          <xsd:group ref="QuotationCharacteristics.model"/>
        </xsd:sequence>
      </xsd:complexType>
      <xsd:complexType name="QuoteTiming">
        <xsd:annotation>
          <xsd:documentation source="http://www.FpML.org" xml:lang="en">
            The type of the time of the quote.
          </xsd:documentation>
        </xsd:annotation>
        <xsd:simpleContent>
          <xsd:extension base="xsd:normalizedString">
            <xsd:attribute name="quoteTimingScheme" type="xsd:anyURI" default="http://www.fpml.org/coding-scheme/quote-timing-1-0"/>
          </xsd:extension>
        </xsd:simpleContent>
      </xsd:complexType>
      <xsd:complexType name="Valuation">
        <xsd:annotation>
          <xsd:documentation xml:lang="en">
            A valuation of an valuable object - an asset or a pricing
            input. This is an abstract type, used as a base for values of
            pricing structures such as yield curves as well as asset
            values.
          </xsd:documentation>
        </xsd:annotation>
        <xsd:sequence>
          <xsd:element name="objectReference" type="AnyAssetReference">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                A reference to the asset or pricing structure that this
                values.
              </xsd:documentation>
            </xsd:annotation>
          </xsd:element>
          <xsd:element name="valuationScenarioReference" type="ValuationScenarioReference" minOccurs="0">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                A reference to the valuation scenario used to calculate
                this valuation. If the Valuation occurs within a
                ValuationSet, this value is optional and is defaulted from
                the ValuationSet. If this value occurs in both places, the
                lower level value (i.e. the one here) overrides that in the
                higher (i.e. ValuationSet).
              </xsd:documentation>
            </xsd:annotation>
          </xsd:element>
        </xsd:sequence>
        <xsd:attribute name="id" type="xsd:ID"/>
        <xsd:attribute name="definitionRef" type="xsd:IDREF">
          <xsd:annotation>
            <xsd:documentation xml:lang="en">
              An optional reference to the scenario that this valuation
              applies to.
            </xsd:documentation>
          </xsd:annotation>
        </xsd:attribute>
      </xsd:complexType>
      <xsd:complexType name="ValuationReference">
        <xsd:annotation>
          <xsd:documentation xml:lang="en">
            Reference to a Valuation or any derived structure such as
            PricingStructureValuation.
          </xsd:documentation>
        </xsd:annotation>
        <xsd:complexContent>
          <xsd:extension base="Reference"/>
        </xsd:complexContent>
      </xsd:complexType>
      <xsd:group name="Quotation.model">
        <xsd:annotation>
          <xsd:documentation xml:lang="en">
            Some kind of numerical measure about an asset, eg. its price or
            NPV, together with characteristics of that measure.
          </xsd:documentation>
        </xsd:annotation>
        <xsd:sequence>
          <xsd:element name="value" type="xsd:decimal" minOccurs="0">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                The value of the the quotation.
              </xsd:documentation>
            </xsd:annotation>
          </xsd:element>
          <xsd:group ref="QuotationCharacteristics.model">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                The characteristics of the quotation.
              </xsd:documentation>
            </xsd:annotation>
          </xsd:group>
        </xsd:sequence>
      </xsd:group>
      <xsd:group name="QuotationCharacteristics.model">
        <xsd:annotation>
          <xsd:documentation xml:lang="en">
            A group collecting a set of characteristics that can be used to
            describe a quotation.
          </xsd:documentation>
        </xsd:annotation>
        <xsd:sequence>
          <xsd:element name="measureType" type="AssetMeasureType" minOccurs="0">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                The type of the value that is measured. This could be an
                NPV, a cash flow, a clean price, etc.
              </xsd:documentation>
            </xsd:annotation>
          </xsd:element>
          <xsd:element name="quoteUnits" type="PriceQuoteUnits" minOccurs="0">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                The optional units that the measure is expressed in. If not
                supplied, this is assumed to be a price/value in currency
                units.
              </xsd:documentation>
            </xsd:annotation>
          </xsd:element>
          <xsd:element name="side" type="QuotationSideEnum" minOccurs="0">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                The side (bid/mid/ask) of the measure.
              </xsd:documentation>
            </xsd:annotation>
          </xsd:element>
          <xsd:element name="currency" type="Currency" minOccurs="0">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                The optional currency that the measure is expressed in. If
                not supplied, this is defaulted from the reportingCurrency
                in the valuationScenarioDefinition.
              </xsd:documentation>
            </xsd:annotation>
          </xsd:element>
          <xsd:element name="timing" type="QuoteTiming" minOccurs="0">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                When during a day the quote is for. Typically, if this
                element is supplied, the QuoteLocation needs also to be
                supplied.
              </xsd:documentation>
            </xsd:annotation>
          </xsd:element>
          <xsd:group ref="QuoteLocation.model" minOccurs="0">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                Where the quote is from.
              </xsd:documentation>
            </xsd:annotation>
          </xsd:group>
          <xsd:element name="informationSource" type="InformationSource" minOccurs="0" maxOccurs="unbounded">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                The information source where a published or displayed
                market rate will be obtained, e.g. Telerate Page 3750.
              </xsd:documentation>
            </xsd:annotation>
          </xsd:element>
          <xsd:element name="time" type="xsd:dateTime" minOccurs="0">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                When the quote was observed or derived.
              </xsd:documentation>
            </xsd:annotation>
          </xsd:element>
          <xsd:element name="valuationDate" type="xsd:date" minOccurs="0">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                When the quote was computed.
              </xsd:documentation>
            </xsd:annotation>
          </xsd:element>
          <xsd:element name="expiryTime" type="xsd:dateTime" minOccurs="0">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                When does the quote cease to be valid.
              </xsd:documentation>
            </xsd:annotation>
          </xsd:element>
          <xsd:element name="cashFlowType" type="CashflowType" minOccurs="0">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                For cash flows, the type of the cash flows. Examples
                include: Coupon payment, Premium Fee, Settlement Fee,
                Brokerage Fee, etc.
              </xsd:documentation>
            </xsd:annotation>
          </xsd:element>
        </xsd:sequence>
      </xsd:group>
      <xsd:group name="QuoteLocation.model">
        <xsd:annotation>
          <xsd:documentation xml:lang="en">
            A group describing where a quote was or will be obtained, e.g.
            observed or calculated.
          </xsd:documentation>
        </xsd:annotation>
        <xsd:choice>
          <xsd:element name="businessCenter" type="BusinessCenter">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                A city or other business center.
              </xsd:documentation>
            </xsd:annotation>
          </xsd:element>
          <xsd:element name="exchangeId" type="ExchangeId">
            <xsd:annotation>
              <xsd:documentation xml:lang="en">
                The exchange (e.g. stock or futures exchange) from which
                the quote is obtained.
              </xsd:documentation>
            </xsd:annotation>
          </xsd:element>
        </xsd:choice>
      </xsd:group>
    </xsd:schema>