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* Present MarkitSERV: TA DTCC: RM, SS JP Morgan: AP ( Chair ) ISDA: CA, IY, LY, MG * Apologies MarkitSERV: JC Omgeo: TB * Minutes CA provided an update on MCA drafting progress a) AEJ closed market option should be available on 06 Oct b) EU Index Swap ( Client ) trader call went ahead on 01
Oct, aim from final draft end Oct c) EU Index Swap ( Interdealer ) will then follow,
exploiting similarities between Client and Interdealer forms CA and the others continue to encourage legal drafting
groups to consider the impact of their decisions on the transaction supplement,
and encourage implementation by MCA and/or MCA Annex where possible [ NOTE For
FpML this means a change to reference data ( coding schemes ) rather than a
change to the product structures within the XML Schema ] Equity Trade Repository RFP process is in the second round.
Equity Steering Cttee will take the lead in this process. Winner should be
identified by the end of October as required by the NY Fed. An updated letter will be provided to the NY Fed. by 07 Oct.
The previous June letter introduced the Equity Trade Repository, which caused
other items such as "lifecycle events" to take a lower priority.
Regulators are gaining experience with EQD following CDS and IRD.
Standardisation is being applied more strongly in the dimension of business
processes rather than product definition We will use the ISDA term "HedgeExecution" despite
the fact that this could be read as being part of the life of the Hedging
process ( establish, unwind ) AP and CY joined 30 Sep call with ISDA Electronic WG and
confirmed that "3 MCAs need to be released in Q1'10 if MCAs are published
by the end of this year. They are (i) US client option, (ii) Emerging Market
option, and (iii) AEJ close market option. FED commitment for US client option
still remains as is (which is December '09)." Updated roadmap has been uploaded to FpML Web Site FpML-4-7-WD-1 has been released * Decisions 1. We will NOT use the value "HedgingParty" in
determination-method coding scheme 2. Otherwise adopt AP determination-method coding scheme
actions 20091002 3. Adopt coding-scheme policy provided by TA email 20090930 "Usage of masterConfirmationType &
masterConfirmationAnnexType" 4. Next meeting 14:00 LDN Fri 16 Oct 2009 * Actions 1. IY implement determination-method coding scheme decisions 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. |