I have a conflict
From: owner-colwg@xxxxxxxx [owner-colwg@xxxxxxxx] On Behalf Of Sammy Lee [SLee@xxxxxxxxxxx]
Sent: Wednesday, February 24, 2010 10:11 AM
Subject: RE: FPML-CWG Collateral WG action item: list of dispute reason codes
I love the standard message and I suggest to add one more which is:
This is happen quite often that trades are not recognized due to novation consent.
From: owner-colwg@xxxxxxxx [mailto:owner-colwg@xxxxxxxx] On Behalf Of Lyteck Lynhiavu
Sent: Tuesday, February 23, 2010 12:14 PM
Subject: FPML-CWG Collateral WG action item: list of dispute reason codes
Peter put together an initial list of dispute reasons for MC5 and MC6. Please review. We’ll discuss tomorrow.
From: Walsh, Peter R [mailto:PRWalsh@xxxxxxxxxxxxxxx]
We discussed the dispute reasons internally and agreed to limit the initial dispute reasons to maximize the automation of them into our respective collateral management platforms. I do not see a need for two lists as we all agreed the resolution of the disputes fall outside of these messages
Below is a proposed short list of initial (high level) dispute reasons;
Peter Walsh • Vice President• State Street Corporation
From: Lyteck Lynhiavu [mailto:LLynhiavu@xxxxxxxx]
At the last meeting the group discussed using a combination of free-form comment field and/or reason code(s) to capture the reason why a margin call is being disputed.
I have you down for an action item to put together a draft list of generic reason codes for the MC5 (Full Dispute) & MC6 (Partial Dispute) messages; one or more standard reason codes would be used in these messages. (Do you foresee the need for 2 lists/schemes for full and partial disputes?)
You may reply to me (I can bundle your input) or directly to the group; it could be presented to the group on Wednesday.
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