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I agree that it would be preferable to
have only one structure, but also that it would be a hassle for folks to
change, and hence any change should be rolled in slowly. As an interim measure, couldn’t the
sign of the single payment be set to negative to indicate a payment in the
reverse to usual direction? This might require changes to business rules,
but I think that the schema should work as is. - Brian From: cdwg@xxxxxxxx
[mailto:cdwg@xxxxxxxx] On Behalf Of Guy
Gurden It’s debatable. I’d think
given the existing implementation base it probably doesn’t make sense to deprecate
singlePayment since in the majority of cases singlePayment would continue to
work just fine. Although it would be cleaner since then you’d just have
initialPayment to cover all situations. Guy From: Guy: If we were to go with the idea of using
initialPayment, would you also suggest we deprecate singlePayment? Ben
Lis From: Henri, Rather than modify singlePayment I’d
suggest an alternative which is in such circumstances to use the initialPayment
structure (currently intended only to be used for the upfront fee on index
trades). The initialPayment and singlePayment structure differ only in the
payerPartyReference/receiverPartyReference elements. An argument I’d put forward in
favour of this approach is that initialPayment includes the element paymentAmount
(of type Money) whereas singlePayment includes the element fixedAmount (also of
type Money). fixedAmount is intended to correspond to the ISDA defined term
Fixed Amount which is defined as “an amount that is payable by the Fixed
Rate Payer…” so it would seem wrong to subvert the singlePayment
structure and use it for payments that are payable by the Floating Rate Payer. Guy From:
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