FPML-CWG Collateral WG Meeting: Wed July 14, 2010 @ 10am New York / 3pm London

We’ll have a meeting Wednesday at the usual time:

Next Meeting– Wednesday July 14, 2010 @ 10am New York / 3pm London

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)

· Proposal to rename collateral messages:

requestMarginCall (MC1) à renamed to requestMargin

disputeAcknowledgement (MC11) à renamed to disputeNotification (“acknowledgement” is reserved for the low-level system message)

proposeCollateral (MC3c) à renamed requestCollateralAcceptance

Acknowledgement, Exception, Retraction messages are standard low-level system messages. The following messages were added:

marginAcknowledgement (related to MC1)

marginException

collateralAcceptanceAcknowledgement (related to MC3c)

collateralAcceptanceException

disputeAcknowledgement (related to MC11)

disputeException

disputeRetracted

Messages not renamed yet:

marginCallStatus (MC3b/MC5/MC6 = response to MC1)

collateralProposalStatus (MC7/MC8 = response to MC3c)

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 (ongoing)

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