All, Please find attached an update to the original SwapsWire equity swap proposal circulated last week. We have identified one further gap in the return-swap schema from the perspective of implementing the new European Equity Finance Share Swap MCA. That is that in the MCA, it is expected that users capture a 'Dividend Percentage' on the transaction supplement but there is no obvious place to put this in the schema. The Dividend Percentage represents the percentage of the Ex Amount that should be passed through to the Equity Amount Receiver. The banks we are working with tell us that this is something that does regularly change depending on the tax treatment applicable to a given transaction. I have included updated schema files and an updated proposal in which the dividendPercentage element proposal is point 3 of 3. Thanks very much, Piers Evans -----Original Message----- From: eqdwg@xxxxxxxx [mailto:eqdwg@xxxxxxxx] On Behalf Of Piers Evans Sent: 27 September 2007 21:22 To: eqdwg@xxxxxxxx Subject: FpML-EQD enhancement request for FpML 4.3 (return swaps) All, We have come across two small gaps in the return swap schema that have prevented us from fully implementing the new ISDA 2007 Equity Finance Share Swap that ISDA released at the beginning of last week. Could we request that the group review the attached proposal with a view to plugging these gaps in FpML 4.3? I attach revised schema files, a proposal write up and also a copy of the new ISDA MCA. Regards, Piers Evans --------------------------------------------------------------------- This is a commercial communication sent by SwapsWire Limited. This message contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system. E-mail transmission cannot be guaranteed to be secure or error-free as information could be intercepted, corrupted, lost, destroyed, arrive late or incomplete, or contain viruses. The sender therefore does not accept liability for any errors or omissions in the contents of this message which arise as a result of e-mail transmission. If verification is required please request a hard-copy version. Company Details SwapsWire Limited is regulated by the Financial Services Authority and is entered in the FSA's Register (FSA Reference Number 207294). SwapsWire Limited is subject to Value Added Tax (VAT Registration No 761 4444 34). SwapsWire Limited is registered in England at Companies House, no: 4027741. Registered Office: One Silk Street, London, EC2Y 8HQ Contact information If you have any questions in relation to this policy please contact us at: Fountain House 130 Fenchurch Street London EC3M 5DJ Attn: Rachel Cunningham-Day, General Counsel Email: Rachel.cunningham-day@xxxxxxxxxxxxx If you currently receive marketing information from us which you would prefer not to receive in the future please email us at info@xxxxxxxxxxxxxx All email messages sent to and from info@xxxxxxxxxxxxx may be monitored to ensure compliance with internal policies and to protect our business. --------------------------------------------------------------------- This is a commercial communication sent by SwapsWire Limited. This message contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system. E-mail transmission cannot be guaranteed to be secure or error-free as information could be intercepted, corrupted, lost, destroyed, arrive late or incomplete, or contain viruses. The sender therefore does not accept liability for any errors or omissions in the contents of this message which arise as a result of e-mail transmission. If verification is required please request a hard-copy version. Company Details SwapsWire Limited is regulated by the Financial Services Authority and is entered in the FSA's Register (FSA Reference Number 207294). SwapsWire Limited is subject to Value Added Tax (VAT Registration No 761 4444 34). SwapsWire Limited is registered in England at Companies House, no: 4027741. Registered Office: One Silk Street, London, EC2Y 8HQ Contact information If you have any questions in relation to this policy please contact us at: Fountain House 130 Fenchurch Street London EC3M 5DJ Attn: Rachel Cunningham-Day, General Counsel Email: Rachel.cunningham-day@xxxxxxxxxxxxx If you currently receive marketing information from us which you would prefer not to receive in the future please email us at info@xxxxxxxxxxxxxx All email messages sent to and from info@xxxxxxxxxxxxx may be monitored to ensure compliance with internal policies and to protect our business.
Attachment:
Equity Swap Proposal_v2.zip
Description: Equity Swap Proposal_v2.zip