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* Telephone Conference US: 1 888 481 3032 UK: 0 800 904 7961 Intl: 1 617 801 9600 Participant code: 8682747 * Agenda === 1. Actions from our last meeting 14:00 LDN Wed 23 Sep
2009 === TA propose solution for MCA and MCA Annex values ( recap
follows below ) "The value "ISDA2009EquityEuropean"
(“The ISDA 2009 Equity European Annex to the ISDA 2009 European Master Equity Derivatives Confirmation Agreement.”) was added
to “MasterConfirmationAnnexType” scheme. What is a corresponding value in the
“MasterConfirmationType” scheme? Here is Takeo’s comments: “We are not sure with the scheme value. This probably
needs discussions in the next FpML call. * The annex value
"ISDA2009EquityEuropean" does not state whether it is Index or Share. * The annotation states (“ISDA 2009 European
Master… “) but the docs heading states (“2009 European
Interdealer Master…”) * Note that the 2009 Index Annex is a client
template so comes under the 2007 MCA” IY rename "ReturnSwapCurrency.model" to
"CurrencyAndDeterminationMethod.model" in FpML-4-x series IY upload updated roadmap to FpML website IY add Christina MacDonald of BBH as a new observer to the
group IY within EQS sample files change
<determinationMethod> values as follows 1) “GoodFaith” values in sample should be
changed to "CalculationAgent" 2) “PublishedIndexAtValuationTime” values in
samples should be changed to “PriceAtValuationTime” CY ISDA legal drafting update AP propose determination-method coding scheme values, and
usage in sample files === 2. MarkIt Feedback on AP determination-method actions === We are wondering there might be some misunderstandings re
removal of “HedgeExecution”. As I recall from recent European drafting discussions, Hedge
Execution could mean establishing hedge or unwinding hedge depending on the
context, so while it may mean establishing hedge in the strict sense, currently
it appears to be regarded to mean either, like
"HedgePartyDetermination" suggested below. From the systems view point we could make it work by passing
"HedgePartyDetermination" where Hedge Execution is selected on the
GUI. However, the term Hedge Execution has been used in ISDA MCAs and live
trades containing the value “HedgeExecution” already exist, so we
would propose to retain the value in the determination-method scheme (unless
have missed further implications against it). (If “HedgeExecution” is to be retained,
"HedgeUnwind" in samples should be changed to
“HedgeExecution” accordingly.) === 3. Updated online roadmap === http://www.fpml.org/roadmap/roadmap.pdf === 4. ISDA Legal Drafting === Progess report, H1 2010 plans === 5. NY Fed OTC Commitments === Update === 6. AOB === This communication is for informational purposes only. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. All market prices, data and other information are not warranted as to completeness or accuracy and are subject to change without notice. Any comments or statements made herein do not necessarily reflect those of JPMorgan Chase & Co., its subsidiaries and affiliates. This transmission may contain information that is privileged, confidential, legally privileged, and/or exempt from disclosure under applicable law. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution, or use of the information contained herein (including any reliance thereon) is STRICTLY PROHIBITED. Although this transmission and any attachments are believed to be free of any virus or other defect that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by JPMorgan Chase & Co., its subsidiaries and affiliates, as applicable, for any loss or damage arising in any way from its use. If you received this transmission in error, please immediately contact the sender and destroy the material in its entirety, whether in electronic or hard copy format. Thank you. Please refer to http://www.jpmorgan.com/pages/disclosures for disclosures relating to European legal entities. |