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* Present BBH : CMcD DTCC : RM ISDA : IY, MG JPM : AP ( Chair ) * Minutes Welcome CMcD of BBH to the group RM will be working increasingly on Reporting rather than
Confirmation in the future Identified Currency Proposal for UnderlyingAsset has no
adverse consequences, and so has been adopted and released DTCC are satisfied with the current FpML-4-7 and FpML-4-8
release dates. We will keep these under close review to meeting Regulatory and
Industry targets We do not have an update on ISDA legal drafting progress To form a consistent set of coding scheme values for MCA and
MCA annex, and process valid MCA and MCA annex pairs, we require 1. Annex publication dates 2. All valid pairs of MCA and MCA Annex and note that various implementation methods have been used,
such as MCA side letters, and that MCAs have not always been revised to include an updated list of applicable MCA annexes Welcome Venkat Krishnamurthy to the group EU Index Swap is in progress If we are required to support "Multiple Exchange Annex
II" we could relax the data type of the supporting elements from
xsd:boolean to a coding scheme controlled type, however this would introduce
further unwanted complexity Reporting is becoming of increasing concern to Regulators
both in the US and EU. ISDA have been in dialogue with Regulators in both
Regions We will continue with our regular bi-weekly meeting
schedule, meeting next at 14:00 LDN on Fri 20 Nov 2009. Please contact AP (
Chair ) if you have any urgent concerns * Decisions 1. Adopt Identified Currency Proposal for UnderlyingAsset 2. Adopt TA solution of adding values SettlementCurrency and
IssuerPaymentCurrency to determination-method coding scheme 3. Adopt RM solution for MCA Annex coding scheme 4. Add Venkat Krishnamurthy as an Observer for Oracle 5. Next meeting 14:00 LDN Fri 20 Nov 2009 * Actions All feedback on usage of ( currency instance, currency
reference, determination method ) IY add Venkat Krishnamurthy as an Observer for Oracle to the
email group IY add values SettlementCurrency and IssuerPaymentCurrency
to determination-method coding scheme IY obtain from CA and ISDA legal 1. Annex publication dates 2. All valid pairs of MCA and MCA Annex 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. |