FPML-CWG Collateral WG Meeting: Wed September 15, 2010 @ 10am New York / 3pm London

We’ll have a meeting Wednesday as usual.

Next Meeting – Wednesday September 15, 2010 @ 10am New York / 3pm London

Agenda:

1. IN1 – Interest Notification (special scenario): Richard started discussing a special scenario that we may want to support in the messages: In the case that a specific cash collateral is both held and posted during a period the parties need to decide whether to roll in the respective interest or physically settle the interest. (see word doc “col-ex26-IN1”)

2. Review of early draft documentation for (see word doc “FpML collateral documentation 51wd2 draft1”)

Dial in details:

- Please join the web conference:

https://www2.gotomeeting.com/join/151660907

Meeting ID: 151-660-907

- Join the conference call:

US Dial-in: 888-481-3032

UK Toll Free: 0800 904 7961

International Dial-in: 617-801-9600

Passcode: 8682747

(Ref http://www.isda.org/c_and_a/pdf/Electronic-Messaging.pdf p.9)

outstanding questions:

· Substitution Process: Do we need to distinguish between variation margin and segregated independent amount for a substitution request? The distinction was originally made for the margin call process and kept in the proposed substitution messages. This is an open question for the group.

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