RE: FPML-CWG Collateral WG Meeting: Wed November 3, 2010 @ 10am New York / 2pm London

[<jesse.nolan@xxxxxxx>]

Hello Richard,

 

Apologies, I will be unable to dial in today.

 

Regards,
Jesse

 

Jesse Nolan
Associate Director, Collateral & Processing Utility, UBS Investment Bank
Internal Tel: 19 337 4093, External Tel: (203)719-4093
Fax: (203)719-7843
Personal e-mail: jesse.nolan@xxxxxxx

UBS Operations: Delivering post trade client service excellence.

 

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From: owner-colwg@xxxxxxxx [mailto:owner-colwg@xxxxxxxx] On Behalf Of richard.barton@xxxxxxxxxxxxxxxx
Sent: Tuesday, November 02, 2010 4:19 PM
To: colwg@xxxxxxxx
Subject: FPML-CWG Collateral WG Meeting: Wed November 3, 2010 @ 10am New York / 2pm London

We’ll have a call Wednesday to discuss the latest changes to the interest messages following input from the FpML Coordination Committee. Thanks, Richard

 

Next Meeting – Wednesday November 3, 2010 @ 10am New York / 2pm London. Note the time change in London for this week. (There is a 4-hour time difference between New York and London due to daylight saving time.)

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

 

Agenda:

 

1.       IN1: Review updated structures:

-          Interest payment details (made more consistent across FpML and flexible: e.g., allows for business day adjustment and offset)

-          interest calculation details (interestAccrued\interestCalculationDetails\dailyInterestCalculation)

 (See col-ex24-IN1-send-interest-notification-with-interest-calculations.xml)

 

2.       IN1: Discuss optional flag to specify tax withholding (interestAccrued\calculationTerms\withholdingTax)

 

                                <calculationTerms>
                                                <calculationType>Compounding</calculationType>
                                                <index>EUR-EONIA-Swap-Index</index>
                                                <spread>-0.0030</spread><!-- 30 basis points -->
                                                <dayCountFraction>ACT/360</dayCountFraction>
                                                <withholdingTax>true</withholdingTax><!-- is it the right location? Need for jurisdiction? -->
                                </calculationTerms>

 

 

Materials:

- schema and examples (attached zip / download zip)

- documentation for download (word doc)

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

 

 

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