How To Fix RY121 - Each elementary transaction for an option must have one underlying

SAP Error Message - Details

• Message type: E = Error

• Message class: RY - Messages for RM Basis

• Message number: 121

• Message text: Each elementary transaction for an option must have one underlying

What causes this issue?

Elementary transaction &V1& is a type of option (transaction form &V2&).
However, either no underlying was assigned to the option, or more than
one underlying was assigned. If the latter is the case, you must use
transaction form 200 (complex transaction) instead.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message RY121 - Each elementary transaction for an option must have one underlying ?

  The SAP error message RY121, which states "Each elementary transaction for an option must have one underlying," typically occurs in the context of financial instruments, particularly when dealing with derivatives or options in the SAP system. This error indicates that there is a configuration or data issue related to the underlying asset of an option transaction.
  Cause:
  
  
  Missing Underlying Asset: The error usually arises when an option transaction is defined without a corresponding underlying asset. In financial terms, an option is a contract that gives the holder the right, but not the obligation, to buy or sell an underlying asset at a predetermined price.
  
  
  Incorrect Configuration: There may be a misconfiguration in the transaction setup, where the system expects each option to be linked to a specific underlying asset, but this link is missing or incorrectly defined.
  
  
  Data Entry Errors: There could be errors in the data entry process, where the underlying asset was not specified or was incorrectly specified during the transaction creation.
  
  
  Solution:
  
  
  Check Transaction Data: Review the transaction data for the option in question. Ensure that there is a valid underlying asset linked to the option. This can usually be done in the transaction details or configuration settings.
  
  
  Define Underlying Asset: If the underlying asset is missing, you will need to define it. This may involve creating a new underlying asset in the system or linking the option to an existing one.
  
  
  Review Configuration Settings: Check the configuration settings for options and derivatives in your SAP system. Ensure that the settings are correctly defined to require an underlying asset for each option transaction.
  
  
  Consult Documentation: Refer to SAP documentation or help resources specific to the module you are working with (e.g., SAP Treasury and Risk Management) for guidance on how to properly set up options and their underlying assets.
  
  
  Seek Support: If the issue persists after checking the above points, consider reaching out to your SAP support team or consulting with an SAP expert who can provide more tailored assistance based on your specific configuration and setup.
  
  
  Related Information:
  
  SAP Modules: This error is often encountered in modules related to financial instruments, such as SAP Treasury and Risk Management (TRM) or SAP Financial Services.
  Transaction Codes: Familiarize yourself with relevant transaction codes that may help you navigate to the option and underlying asset settings, such as TPM1 for creating financial transactions or TPM2 for changing them.
  SAP Notes: Check for any SAP Notes related to this error message, as they may provide additional insights or patches that could resolve the issue.
  
  By following these steps, you should be able to identify and resolve the cause of the RY121 error in your SAP system.