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FpML-Com Reminder: FpML Commodity Working Group call today (Friday 4 September) at 15:00 LON / 10:00 NYC

All,

Please note that there is a call today at 15:00 London / 10:00 New York.


AGENDA:

1. Minutes / Actions from last call (attached)

2. Physical Options

  - Review of initial proposal (attached)

3. AOB


Dial in details:

US: 1 888 481 3032

UK: 0 800 904 7961

Intl: 1 617 801 9600

Participant Code: 52016709


Regards,

Owen King
+44 20 7071 0137
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* Present
Marc Gratacos, ISDA
Raphael Iyageh, GS
Owen King, Markit (Chair)
Lyteck Lynhiavu, ISDA
William Wise, Markit
Irina Yermakova, ISDA


* Review outstanding actions

>> All to provide copies of physically-settled option confirmations
Closed in favour of more specific requests [Closed]

>> RI to try and provide a confirmation for a daily expiring
physically-settled option
[Carried forward]

>> RI to try and provide a confirmation for a bullion option with
multiple deliveries
RI sent a confirmation directly to OK [Closed]

>> OK to update the schema to use a substitution group for the choice of
physical settlement details
The updated schema and diagram were attached to the agenda [Closed]

>> FM to propose an alternative structure for physically settled options
that uses the existing commodityOption type
FM was not on today's call [Carried forward]

>> DM to propose an alternative structure for physically settled options
that uses the existing commodityOption type
DM was not on today's call [Carried forward]


* Minutes

1. Physical Options

  - Review of discussion paper
    + OK explained the points in the discussion paper. There was no
immediate feedback but OK asked the group to consider the questions
prior to the next call.

2.  Change of commoditySwap leg choice structure to substitution group

  - OK noted the above change and asked participants to confirm whether
the change is appropriately extensible.

3. Additions to coding schemes

  - The group agreed to add the values included in the agenda to the
masterAgreementTypeScheme coding scheme, with the years (where present)
being added to the masterAgreementVersionScheme.

[Carried Forward] RI to try and provide a confirmation for a daily
expiring physically-settled option

[Carried Forward] FM to propose an alternative structure for physically
settled options that uses the existing commodityOption type

[Carried Forward] DM to propose an alternative structure for physically
settled options that uses the existing commodityOption type


* Next meeting 15:00 UK / 10:00 US Fri 4th September 2009



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Attachment: FpML Physical Commodities Discussion - Options v2.doc
Description: FpML Physical Commodities Discussion - Options v2.doc