# XML Schema Documentation

### Element: creditDefaultSwap

#### [Table of contents]

This element can be used wherever the following element is referenced: product

Name | creditDefaultSwap
Used by (from the same schema document) | Complex Type CreditDefaultSwapOption
Type | CreditDefaultSwap
Nillable | no
Abstract | no
Documentation | In a credit default swap one party (the protection seller) agrees to compensate another party (the protection buyer) if a specified company or Sovereign (the reference entity) experiences a credit event, indicating it is or may be unable to service its debts. The protection seller is typically paid a fee and/or premium, expressed as an annualized percent of the notional in basis points, regularly over the life of the transaction or otherwise as agreed by the parties.

Logical Diagram
XML Instance Representation
<creditDefaultSwap
id=" xsd:ID [0..1]">
<productType> ProductType </productType> [0..*]

'A classification of the type of product. FpML defines a simple product categorization using a coding scheme.'

<productId> ProductId </productId> [0..*]

'A product reference identifier allocated by a party. FpML does not define the domain values associated with this element. Note that the domain values for this element are not strictly an enumerated list.'

<generalTerms> GeneralTerms </generalTerms> [1]

'This element contains all the data that appears in the section entitled \"1. General Terms\" in the 2003 ISDA Credit Derivatives Confirmation.'

<feeLeg> FeeLeg </feeLeg> [1]

'This element contains all the terms relevant to defining the fixed amounts/payments per the applicable ISDA definitions.'

<protectionTerms> ProtectionTerms </protectionTerms> [1..*]

'This element contains all the terms relevant to defining the applicable floating rate payer calculation amount, credit events and associated conditions to settlement, and reference obligations.'

Start Choice [0..*]
<cashSettlementTerms> CashSettlementTerms </cashSettlementTerms> [1]

'This element contains all the ISDA terms relevant to cash settlement for when cash settlement is applicable. ISDA 2003 Term: Cash Settlement'

<physicalSettlementTerms> PhysicalSettlementTerms </physicalSettlementTerms> [1]

'This element contains all the ISDA terms relevant to physical settlement for when physical settlement is applicable. ISDA 2003 Term: Physical Settlement'

End Choice
</creditDefaultSwap>
Diagram
Schema Component Representation
<xsd:element name="creditDefaultSwap" type=" CreditDefaultSwap " substitutionGroup="product"/>