RE: FpML-CD Municipal CDX Standard Terms Supplement (Proposal to add "MCDX" to contractualSupplementScheme)

["Ben Lis" <Ben.Lis@xxxxxxxxx>]

Given the very short time frame available to us before MCDX starts trading and that Henri's scheme proposal is not a contentious one, I suggest that we have a call for e-mail comments on this proposal that stays open until close of business NY on May 2nd (this Friday).

If no unaddressed objections are raised by this time and the proposal has at least been seconded by another CDWG member (myself excluded - though I do endorse it), we would move to add MCDX to the contractualSupplementScheme.

If any CDWG members have concerns with us utilizing this "fast track" approval process, please raise them on this e-mail thread. I hasten to add that this kind of approach should only be considered for new scheme values where market conditions do not allow us a longer time window for comments.

To avoid any ambiguity here once again is a statement of the proposal under consideration:

----------
To add the following value and description to the contractualSupplementScheme:

"MCDX"
Standard Terms Supplement for Municipal CDX Untranched Transactions.

The value and description are based on the existing naming conventions
present on the MCDX Standard Terms Supplement.

Here is the URI for the current version of the contractualSupplementScheme: http://www.fpml.org/coding-scheme/contractual-supplement-6-6.xml
----------

Finally, just as an FYI - you can download a nice PowerPoint description on MCDX here: http://www.markit.com/information/products/category/indices/mcdx.html


Thanks,

Ben Lis
Head of Product Management & Integration
T-Zero
 
212.323.6041
www.tzero.com
 
 
 
 

-----Original Message-----
From: cdwg@xxxxxxxx [mailto:cdwg@xxxxxxxx] On Behalf Of Henri Pegeron
Sent: Tuesday, April 29, 2008 12:02 PM
To: cdwg@xxxxxxxx
Subject: FpML-CD Municipal CDX Standard Terms Supplement (Proposal to add "MCDX" to contractualSupplementScheme)


Ben/All,
I'd like to add another Standard Terms Supplement proposal for CDWG
approval to cover Municipal CDX.

The index will potentially go live as soon as May 6th, 2008.

In preparation, DTCC is looking to include language for the MCDX (Municipal
Credit Index) Standard Terms Supplement in FpML.  To support it, the
proposal is to add the following value and description to the
contractualSupplementScheme:

"MCDX"
Standard Terms Supplement for Municipal CDX Untranched Transactions.

The value and description are based on the existing naming conventions
present on the MCDX Standard Terms Supplement.

Hopefully we can discuss through email for confirmation at the next CDWG.

Regards,
Henri Pegeron
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Phone: + 1 (212) 855 1682
Fax: + 1 (212) 855 1020


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