RE: FPML-CWG Collateral WG Meeting: Wed June 30, 2010 **Time Change**

It does not seem that we have a consistent participation for either time so I think we’ll postpone for this week. We’ll send out an email with some homework to prepare for next weeks meeting.

Thanks

Richard

From: owner-colwg@xxxxxxxx [mailto:owner-colwg@xxxxxxxx] On Behalf Of Lyteck Lynhiavu
Sent: Tuesday, June 29, 2010 6:50 PM
To: colwg@xxxxxxxx
Subject: FPML-CWG Collateral WG Meeting: Wed June 30, 2010 **Time Change**

As discussed, we propose rescheduling the collateral call either an hour earlier to 9am New York (2pm London) OR an hour later to 11am (4pm London) to accommodate the ISDA Member Call at 10am that many may want to attend. Richard will decide the time Wednesday morning, based on everyone's input.

Let us know ASAP if 9am New York (2pm London) works or if you'd prefer another time: 11am (4pm London) or 10am/3pm (no change)

Next Meeting– Wednesday June 30, 2010 @ 9am New York / 2pm London -OR- 11am New York / 4pm London (TBD)

Going forward, we will use remote web sessions to make it easier to review the schema and examples during the calls. Please note you may need to install a small module to view the meeting. Those who can’t install the module can also follow by opening the XML files directly (see attached zip; rename .zip-email extension to .zip).

1. Join the web presentation:

https://www2.gotomeeting.com/join/428595714

Meeting ID: 428-595-714

2. Dial-in details:

US Dial-in: 888-481-3032

UK Toll Free: 0800 904 7961

International Dial-in: 617-801-9600

Passcode: 8682747

Agenda

· FpML 5.1 Working Draft 1 Deliverable (schema, examples, schema documentation, documentation)

· Acknowledge Dispute Notification (MC11), Discuss draft implementation of MC11, the response to the full dispute (MC5) / partial dispute (MC6) (see msg-ex-MC11-acknowledge-dispute.xml)

<variationMargin>
          <disputedAmount>
                    <currency>USD</currency>
                              <amount>200000</amount>
          </disputedAmount>
          <disputeDate>2010-06-30</disputeDate>
          <disputeResolutionMethod>
                    <resolutionMethodCode>ReconcilePortfolio</resolutionMethodCode>
                    <description>reconcile using TriOptima for valuation date</description>
          </disputeResolutionMethod>
          <disputeResolutionMethod>
                    <resolutionMethodCode>ReconcileCollateral</resolutionMethodCode>
                    <description>please send collateral statement in Excel format</description>
          </disputeResolutionMethod>
</variationMargin>

· Request Portfolio (MC12/MC13) Discuss implementation of MC12/MC13 and the different process options around dispute resolution and portfolio reconciliation. This will help to consider the content of these messages in terms of reconciliation options i.e. unilateral reconciliation with portfolio exchange vs. bilateral reconciliation where there are proactive and reactive scenarios and choice of reconciliation service providers.

Action Items / To do

1. All firms to validate the schema/content model by creating their own XML examples or by providing margin call examples which we can translate to XML.

2. GlobeOp / Richard to put together a list of definitions (i.e., glossary of collateral terms) that will be used to document the schema.

3. Renaming of collateral messages to comply to FpML message naming patterns

Ref: http://www.isda.org/c_and_a/pdf/Electronic-Messaging.pdf

Thanks, Lyteck

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