Type: String
Used to specify whether the principal is paying or receiving the fixed rate in an interest rate swap.
Added in protocol FIX.5.0SP2 (161)
Valid values
| Value | Description | Added |
|---|---|---|
| NA | Swap is float/float or fixed/fixed | FIX.5.0SP2 (161) |
| PAY | Principal is paying fixed rate | FIX.5.0SP2 (161) |
| RCV | Principal is receiving fixed rate | FIX.5.0SP2 (161) |