Attached is a proposal to develop a simplified version of the Payment construct, which would be used (to start with) to support both the option on CDS and bond/CB underlyers as well as the payment associated with the cancellable and extendible provisions of the ird schema.
The image below presents the features of this construct, while the schema integrates into our work in progress on the options front.
Eliminated features from the Payment type:
- settlementInformation (which we agreed do not belong to the contract description)
- adjustmentPaymentDate (which should be tackled through the NONE entry for the date adjustment)
Open questions for the group:
- I have the sense that both AdjustableDateOrRelativeDate and AdjustableDateOrRelativeDateSequence would meet the need for the relative date construct. Which one is more appropriate?
- Are we comfortable with the proposed PaymentTypeEnum enumeration:
<xsd:restriction base="xsd:token">
<xsd:enumeration value="PrePaidPremium"/>
<xsd:enumeration value="FixedPremium"/>
<xsd:enumeration value="Fee"/>
<xsd:enumeration value="PostPaidPremium"/>
<xsd:enumeration value="Premium"/>
<xsd:enumeration value="VariablePremium"/>
</xsd:restriction>
<<PaymentSimple.png>>
<<CDS Option - 20070116 PostWGMeeting.zip>>
Attachment:
PaymentSimple.png
Description: PaymentSimple.png
Attachment:
CDS Option - 20070116 PostWGMeeting.zip
Description: CDS Option - 20070116 PostWGMeeting.zip
