I recall an argument
for adding adjustedPaymentDate into the original structure was to allow the
ability to carry around both the rule for adjusting an adjusted date and the
implied adjusted date for internal processing purposes, i.e. the adjustable
date may specify date X subject to adj in accordance with Modified Following
using New York business days and the adjustedPaymentDate structure would allow
a place to specify what you’ve calculated that adjusted date to
be.
Can you elaborate on
the meanings of the proposed paymentTypeEnum values as I’m not following what
the distinction of each is and what is driving this particular list. What is
the value of providing such a classification if the goal here is to create a
much simplified structure?
Guy
From:
cdwg@xxxxxxxx [mailto:cdwg@xxxxxxxx] On
Behalf Of Lamy, Pierre
Sent: Thursday, January 18, 2007 6:51
PM
To: coord@xxxxxxxx; irdwg@xxxxxxxx;
cdwg@xxxxxxxx
Subject:
FpML-CD PaymentSimple proposal
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>>
This
is a commercial communication sent by SwapsWire Limited.
This message contains confidential information
and is intended only for the individual named. If you are not the named
addressee you should not disseminate, distribute or copy this e-mail.
Please notify the sender immediately by e-mail if you have received this
e-mail by mistake and delete this e-mail from your system. E-mail transmission cannot be guaranteed to be secure or
error-free as information could be intercepted, corrupted, lost, destroyed,
arrive late or incomplete, or contain viruses. The sender therefore does
not accept liability for any errors or omissions in the contents of this
message which arise as a result of e-mail transmission. If verification
is required please request a hard-copy version.
Company Details
SwapsWire Limited
is regulated by the Financial Services Authority
and is entered in the
FSA's Register (FSA Reference Number 207294).
SwapsWire Limited is subject
to Value Added Tax
(VAT Registration No 761 4444 34).
SwapsWire Limited
is registered at Companies House, no: 4027741.
Registered Office: One Silk
Street, London, EC2Y 8HQ
Contact information
If you have
any questions in relation to this policy please contact us at:
Fountain
House
130 Fenchurch Street
London EC3M 5DJ
Attn: Rachel
Cunningham-Day, General Counsel
Telephone: 00-44-207-071-0133
Email:
Rachel.cunningham-day@xxxxxxxxxxxxx
If you currently receive marketing information from
us which you would prefer not to receive in the future please email us at
info@xxxxxxxxxxxxx. All email messages sent to and from info@xxxxxxxxxxxxx
may be monitored to ensure compliance with internal policies and to protect
our business.