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RE: FpML-IM-Custodian Block trade ids
Mike,
Tom Duffy's feedback and yours indicates there is a business requirement
in this space that was not addressed directly by FpML. Both allocation
and block level ids seem to be needed. I appreciate it's possible to
embed the block id as part of the allocation id, but it's probably not
ideal going forward.
Let's discuss this in the call next Wed.
Thanks,
Lucio
-----Original Message-----
From: im-custodian@xxxxxxxx [mailto:im-custodian@xxxxxxxx] On Behalf Of
Dever, Michael J
Sent: Wednesday, September 30, 2009 6:26 AM
To: im-custodian@xxxxxxxx
Subject: RE: FpML-IM-Custodian Block trade ids
Lucio
Isn't the block ID today from asset managers being put in the contract
ID field? Why do we need another field? Custodians today use the asset
manager contract ID field to cross reference to their internal security
master data. This is also used for reconciliation and pricing. What
does the asset manager plan on putting in the contract ID field?
Michael Dever
Vice President
Global Services/Derivative Operations
T: 1-617-985-2041
-----Original Message-----
From: im-custodian@xxxxxxxx [mailto:im-custodian@xxxxxxxx] On Behalf Of
Iida, Lucio BGI SF
Sent: Tuesday, September 29, 2009 8:56 PM
To: im-custodian@xxxxxxxx
Subject: FpML-IM-Custodian Block trade ids
WG,
An asset manager is looking to send a block trade id in addition to the
allocation-level id to its custodians in the Contract messages. The
block id would allow the custodians to price once at the block level.
The Contract messages do not have a field defined explicitly for this
purpose. I propose we add an optional field. And if necessary in the
interim, there are two places that could be used for the block id:
1) Another instance of <contractId> with an agreed-to contractIdScheme.
2) Not sure about <productId>, but we should discuss and determine if
this proposed usage is correct.
Please send your thoughts on this.
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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