FpML-IM-Custodian Technical Teleconference 2009-08-26 minutes

["Iida, Lucio BGI SF" <Lucio.Iida@xxxxxxxxxxxxxxxxxx>]

 

The WG held a conference call on Wed Aug 26 noon Eastern.

 

Attendees:

Irina Yermakova - ISDA

Tom Duffy - Northern

Robert Dawson - BNY Mellon

Francoise Massin - SWIFT

Marie-Paule Dumont - SWIFT

Christina McDonald - BBH 

Lucio Iida - BGI

 

Agenda and minutes:

1. Brief status on FpML 4.6.
   • FpML 4.6 Trial Release was published Aug 17.
   • It includes the payment breakdown in contract notification messages.  It also includes the new contract change and amendment messages.
   • Full Recommendation is expected mid Sep.
   • Marie-Paule indicated the SwiftNet Derivatives Service will support 4.6 for testing in Jan 2010 and live in Apr 2010 if the Full Recommendation is out by Sep 17.  Irina thinks this is feasible.  If we miss that date, the Derivatives Service would support testing by June and live Aug 2010.
2. Discussion and status of request by Marc Gratacos for samples of CFD confirmations in order to enhance FpML.
• Marc received some sample confirmations.
• Some firms believe CFDs can be represented in FpML return swaps.  Irina indicated this is being researched and that the Equity WG will help once current work committed to the Fed is completed.
3. Marie-Paule reported an increase in contract message traffic in the SwiftNet Derivatives Service.
4. Update on the ISITC IM-Third Party Contract Notification Market Practice.
   • The first version was finalized and posted in the ISITC site on Aug 5.  http://www.isitc.org/publish/showDoc.cfm?contentId=0000005266_001_20090805.pdf
   • Best practices around the use of the new contract messages will be added to the next version.  Recommendations around notifications of Swaptions, equity swaps, and CFDs are also planned.
5. Next call in 4 weeks, Wed Sep 23 noon Eastern.

Please let me know of any errors or omissions.

 

Thanks,

Lucio Iida
Principal
Software Engineering Technologist

TEL 415 597 2288
CELL 415 717 9261
FAX 415 618 1667
lucio.iida@xxxxxxxxxxxxxxxxxx

Barclays Global Investors 400 Howard Street San Francisco, CA 94105

 

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