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FPML-CWG Collateral WG Meeting Minutes - September 29, 2010



Please find the minutes for the September 29 meeting.

 

Participants

1.       Jesse Nolan (UBS)

2.       Anil Panchal (GlobeOp)

3.       Joe Novellino (DB)

4.       Tom Brown (OMGEO)

5.       Irina Yermakova (ISDA)

6.       Marc Gratacos (ISDA)

7.       Lyteck Lynhiavu (ISDA)

8.       Richard Barton (Algorithmics)

 

Summary

 

·         Interest Calculations and Interest Statement: The group reviewed the design of the new <interestCalculationDetails> structure that shows for each day of the interest period how the interest was calculated and accrued.

-          The calculation details <interestCalculationDetails> can be included in both the IN1 message <requestInterest> and a standalone <interestStatement> message (name may change)

-          à Anil volunteered to provide examples of interest statements to show what fields are included and how they are named (done – see his email sent 9/29)

·         Further technical review of the collateral work The collateral messages the group developed will undergo a technical review on Monday October 18 by the FpML Coordination Committee to make sure they follow best practice. It is a normal standards process to ensure the quality of the collateral deliverables. Richard and Lyteck will present the work to that review body.

 

               

No meeting on Wednesday October 6 – we’ll take this time to work on the documentation and present to the group the following week.

 


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