<?xml version="1.0" encoding="utf-8" ?>
<!--View is confirmation-->
<!--Version is 5-10-->
<!--NS is http://www.fpml.org/FpML-5/confirmation-->
<!--
  == Copyright (c) 2014-2018 All rights reserved.
  == Financial Products Markup Language is subject to the FpML public license.
  == A copy of this license is available at http://www.fpml.org/license/license.html
  -->
<!--
see template: fx-ex59-fx-range-accrual-european.pdf

Note: this trade have been booked as part of a trade strategy. The conf does not say this because the legs were booked individually rather than linked 
The premium for the structure as a whole has been loaded onto this one leg. It's reasonably common for structures to be booked as an unlinked collection of legs. 

2. Settlement terms:
On the relevant Settlement Date, the Option Seller shall pay to the Option Buyer an amount, in the Settlement Currency, calculated according to the following formula: 

Accrual Currency and Notional Amount x (the total number of Accrual Days / Total Number of Calendar Days in the Accrual Period)
-->
<executionNotification
    xmlns="http://www.fpml.org/FpML-5/confirmation"
    xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
    fpmlVersion="5-10"
    xsi:schemaLocation="http://www.fpml.org/FpML-5/confirmation ../../fpml-main-5-10.xsd http://www.w3.org/2000/09/xmldsig# ../../xmldsig-core-schema.xsd"
>
  <header>
    <messageId messageIdScheme="http://www.executionnotificationservice.com/coding-scheme/messageId">FX456a789b</messageId>
    <sentBy messageAddressScheme="http://www.executionnotificationservice.com/partyId">EXECSRV</sentBy>
    <sendTo messageAddressScheme="http://www.executionnotificationservice.com/partyId">PARTYA</sendTo>
    <creationTimestamp>2014-06-24T08:57:00Z</creationTimestamp>
  </header>
  <isCorrection>false</isCorrection>
  <trade>
    <tradeHeader>
      <partyTradeIdentifier>
        <partyReference href="partyA" />
        <tradeId tradeIdScheme="#partyA">12345</tradeId>
      </partyTradeIdentifier>
      <tradeDate>2013-03-14</tradeDate>
    </tradeHeader>
<!-- "fxRangeAccrual" - there is no optionality. Note it is always cash-settled -->
    <fxRangeAccrual>
      <productType productTypeScheme="http://www.fpml.org/coding-scheme/product-type-simple">FxRangeAccrual</productType>
      <payerPartyReference href="partyB" />
      <receiverPartyReference href="partyA" />
<!--What defines the underlying product that is going to be paid-->
      <notionalAmount>
        <initialValue>21160252.00</initialValue>
        <currency>HUF</currency>
      </notionalAmount>
<!--Accrual Period - describes the accrual process-->
      <accrual>
        <observable id="ob1">
          <quotedCurrencyPair>
<!--what it is you are measuring. -->
            <currency1>EUR</currency1>
            <currency2>HUF</currency2>
            <quoteBasis>Currency2PerCurrency1</quoteBasis>
          </quotedCurrencyPair>
          <informationSource>
<!--Describes the source the accrual event based on-->
            <rateSource>Reuters</rateSource>
            <rateSourcePage>ECB37</rateSourcePage>
            <fixingTime>
              <hourMinuteTime>14:15:00</hourMinuteTime>
              <businessCenter>DEFR</businessCenter>
            </fixingTime>
          </informationSource>
        </observable>
<!--  Range accrual -->
        <accrualRegion>
          <observableReference href="ob1" />
<!-- We do not need a type = European within accrual region barriers, they are implicitly European. 
                            - European means notional will cease accruing if spot fixes across the barrier as defined by the direction, but will resume if later fixings fall back within the accrual region.-->
          <lowerBound>
<!--Defines the boundaries of an accrual region. Need at least one barrier. -->
<!-- Defines a barrier boundary to the accrual region. -->
<!-- direction:  AtOrAbove means the barrier event occurs if the fixing is at or above the trigger rate. -->
            <condition>AtOrAbove</condition>
            <level>
              <initialValue>285.0000</initialValue>
            </level>
          </lowerBound>
          <upperBound>
<!--Defines the boundaries of an accrual region. Need at least one barrier. -->
<!-- Defines a barrier boundary to the accrual region. -->
<!-- direction:  AtOrBelow means the barrier event occurs if the fixing is at or below the trigger rate. -->
            <condition>AtOrBelow</condition>
<!-- upperBound has AtOrBelow/Below-->
<!-- This is EURmart means the exchange rate expressed as the number of HKD per one EUR -->
            <level>
              <initialValue>309.0000</initialValue>
            </level>
          </upperBound>
        </accrualRegion>
        <fixingSchedule>
<!--the dates when you are mesuaring-->
          <startDate>2014-03-18</startDate>
          <endDate>2014-09-17</endDate>
          <dayType>Business</dayType>
          <businessCenters>
            <businessCenter>EUTA</businessCenter>
            <businessCenter>HUBU</businessCenter>
          </businessCenters>
          <numberOfFixings>129</numberOfFixings>
        </fixingSchedule>
      </accrual>
      <expiryDate>
        <dateAdjustments>
          <businessDayConvention>FOLLOWING</businessDayConvention>
          <businessCenters>
            <businessCenter>EUTA</businessCenter>
            <businessCenter>HKHK</businessCenter>
          </businessCenters>
        </dateAdjustments>
        <adjustedDate>2014-09-17</adjustedDate>
      </expiryDate>
      <settlementDate>
        <dateAdjustments>
          <businessDayConvention>FOLLOWING</businessDayConvention>
          <businessCenters>
            <businessCenter>EUTA</businessCenter>
            <businessCenter>HUBU</businessCenter>
          </businessCenters>
        </dateAdjustments>
        <adjustedDate>2014-09-19</adjustedDate>
      </settlementDate>
      <premium>
        <payerPartyReference href="partyB" />
        <receiverPartyReference href="partyA" />
        <paymentDate>
          <adjustableDate>
            <unadjustedDate>2013-03-19</unadjustedDate>
            <dateAdjustments>
              <businessDayConvention>NONE</businessDayConvention>
            </dateAdjustments>
          </adjustableDate>
        </paymentDate>
        <paymentAmount>
          <currency>HUF</currency>
          <amount>31242595.00</amount>
        </paymentAmount>
      </premium>
    </fxRangeAccrual>
    <calculationAgent>
      <calculationAgentPartyReference href="partyA" />
    </calculationAgent>
  </trade>
  <party id="partyA">
    <partyId partyIdScheme="http://www.fpml.org/coding-scheme/external/iso17442">549300SRLRVTR996F086</partyId>
  </party>
  <party id="partyB">
    <partyId partyIdScheme="http://www.fpml.org/coding-scheme/external/iso17442">549300RE0FSXJE8G1L65</partyId>
  </party>
</executionNotification>
