TotalNetValue <900> field – FIX 5.0 SP1 – FIX Dictionary
TotalNetValue is determined as follows:
At the initial collateral assignment TotalNetValue <900> is the sum of (UnderlyingStartValue <884> * (1-haircut)).
In a collateral substitution TotalNetValue <900> is the sum of (UnderlyingCurrentValue <885> * (1-haircut)).
For listed derivatives clearing margin management, this is the collateral value which equals (Market value * haircut)