RE: FpML-CD Emerging Markets Standardisation

[<Mike.Woods@xxxxxxx>]

Hi Ben

Did you have a chance to verify the new Transaction Types with the ISDA
Ops group?
In addition, I believe that Australia / NZ Corporates and Australia / NZ
Sovereigns are also in scope for standardisation in September now as
well. 

Thanks

Mike


-----Original Message-----
From: cdwg@xxxxxxxx [mailto:cdwg@xxxxxxxx] On Behalf Of Ben Lis
Sent: 16 July 2009 15:04
To: cdwg@xxxxxxxx
Subject: Re: FpML-CD Emerging Markets Standardisation

Thanks for raising this to the group, Mike. 

You are right -- we need to update several FpML schemes in order to
accommodate this new standardization effort.

I'll contact the ISDA Ops group to verify the new ISDA Transaction
Types.

Regards,
Ben

----- Original Message -----
From: cdwg@xxxxxxxx <cdwg@xxxxxxxx>
To: cdwg@xxxxxxxx <cdwg@xxxxxxxx>
Sent: Wed Jul 15 04:49:57 2009
Subject: FpML-CD Emerging Markets Standardisation

Hi all,
I understand the latest industry initiatives for single name
standardisation has been agreed upon (see attached note from ISDA). The
following products are in scope:

	*	Emerging Market Corporate 
	*	Emerging Market Sovereign 
	*	Latin American Corporate 
	*	Latin American Sovereign 
	*	CDX Emerging Market Index 

As far as I understand the product characteristics seem to be similar to
previous implementations of SNAC / SEC. Specifically:

	*	Payment Frequency: Change from Semi-Annual to Quarterly 
	*	Fixed Spreads of 100 or 500 
	*	Upfront fee to settle the traded spread / up-front
points and accrued interest 
	*	Full First Coupon 
	*	Standard maturity Date (Mar-20, Jun-20, Sep-20, Dec-20).


It appears that the work done to model previous implementations of SEC /
SNAC should accommodate the above so do we just need to specify the new
matrix transaction / broker conf types within FpML? 

Thanks

Mike
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