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RE: FpML-BP Call for comments: trade execution messages


"- TradeExecuted (or TradeExecution)
- TradeExecutionModified
- TradeExecutionCancelled"

- I like this proposal

Matthew Rawlings
+44 7917 596 827


"Brian Lynn" <brian.lynn@xxxxxxxxxxxxxxxxxxx>
Sent by: bpwg@xxxxxxxx

19/03/2008 14:34

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RE: FpML-BP Call for comments: trade execution messages





Matthew –
 
See comments below.
 
From: bpwg@xxxxxxxx [mailto:bpwg@xxxxxxxx] On Behalf Of matthew.d.rawlings@xxxxxxxxxxxx
Sent: Monday, March 17, 2008 10:40 AM
To: bpwg@xxxxxxxx
Subject: Re: FpML-BP Call for comments: trade execution messages
 

Sorry, I have three further comments after comparing to an internal definition:
1.        The UML for the Interactions in the Sequence model should be an asynchronous signal message. It looks like you're using MagicDraw which has a property of "Message Sort" that can be set to the value "asynchSignal". The difference is that in UML the asynchronous signal messages are not associated with operations. In the same way FpML represents message passing and not remote method/operation invocation. \
>> Sorry, I was just using Magic Draw to draw arrows, not being careful about what type of arrows I was drawing.  These are in fact supposed to be asynchronous  notification messages, which I guess corresponds to the async signal messages you described.
2.        The names of the events are not consistent with the rest of UML. For example TradeConfirmationRequest and ModifyTradeConfirmationRequest has the prefix "Modify" whereas this proposal has the postfix "Corrected". It doesn't matter for now which is better, but it should be more consistent through FpML.
>> The current naming in FpML is really quite inconsistent.  It would be nice to be consistent with the current FpML, but to be completely consistent we would need to use “Amended”, which I think we all agree is wrong.  The “Corrected” suggestion was based on an extremely long email thread in which we were trying to distinguish revisions to notifications from post-trade amendments.  I would be ok with “tradeExecutionNotificationModified” or “tradeExecutionModified” if it would make you happier, but the original reason for choosing “Corrected” was to indicate that it wasn’t a change to the actual execution, but rather a correction to the notification thereof.  My original proposal, prior to the massive email chain, was tradeExecuted, tradeModified, and tradeCancelled.
3.        IMHO Notification is redundant in the name of the message definition.
>> Me too.  As I said this naming was an attempt to please a number of folks who want the naming to be as unambiguous as possible.
Perhaps we would satisfy people with the following:
- TradeExecuted (or TradeExecution)
- TradeExecutionModified
- TradeExecutionCancelled

Matthew Rawlings
+44 7917 596 827

"Marc Gratacos" <MGratacos@xxxxxxxx>
Sent by: bpwg@xxxxxxxx

17/03/2008 12:10


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FpML-BP Call for comments: trade execution messages

 







Please, let me know if there are any comments regarding this proposal before next week’s Monday 2008-03-24. Otherwise we’ll distribute it to the Coordination Committee for final approval.
 

 


From: bpwg@xxxxxxxx [mailto:bpwg@xxxxxxxx] On Behalf Of Marc Gratacos
Sent: Monday, March 10, 2008 9:27 AM
To: bpwg@xxxxxxxx
Subject: FpML-BP teleconference 2008-03-12
Importance: High
 
The next BPWG meeting will be Wednesday March 12
Please note that due to the daylight saving time change in the US the times for the meeting are:  
Agenda
 
1. Trade Execution Messages (See updated proposal)
2. Settlement Information Notification (I’ll send a proposal before the call)
3. AOB
 
 
Call details:
 
US: 1 888 481 3032
UK: 0 800 904 7961
Intl: 1 617 801 9600
Code: 8682747
 
 
Kind Regards,
-Marc
 
 
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