[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]
FpML-IRD RE: Stubs representation
Marc,
Hi, we have had only favourable feedback so let's proceed with the change -
I guess we'll be targeting the third working draft now?
Best regards,
Harry
|---------------------------------------->
| Internet |
| MGratacos@xxxxxxxx |
| |
| |
| 16/11/2007 09:41 |
|---------------------------------------->
>---------------------------------------------------------------------------------------------------------------|
| |
| |
| To|
| Harry MCALLISTER |
| cc|
| IYermakova |
| Subject|
| RE: Stubs representation |
| |
| |
| |
| |
| |
| |
>---------------------------------------------------------------------------------------------------------------|
Harry,
Should we go ahead and make the change in 4.4 Second Working Draft or
are you still waiting for some additional feedback?
Thanks,
Marc
-----Original Message-----
From: harry.mcallister@xxxxxxxxxxxxxxxxx
[mailto:harry.mcallister@xxxxxxxxxxxxxxxxx]
Sent: Tuesday, November 13, 2007 12:26 PM
To: irdwg@xxxxxxxx
Cc: Irina Yermakova; Marc Gratacos
Subject: Stubs representation
All,
I'd like to draw your attention to a couple of proposed changes to the
stubs model under InterestRateStream. The changes are essentially
technical
and are not expected to affect compliant instance documents - they are
discussed on the FpML issues list at:
http://www.fpml.org/issues/view.php?id=518:
Change the cardinality of StubValue/floatingRate, from 1..* to 1..2.
Rationale: the stub can be produced with a single rate/tenor,
applicable
for the broken period, or with two rate/tenors, interpreted as bounds
for calculation of an interpolated rate. More than two instances of
StubValue/floatingRate are inconsistent with the existing annotation,
not meaningful in business terms, and should not be permitted by the
schema.
Change the content model of StubCalculationPeriodAmount to enforce
the
presence of at-least-one-of initialStub|finalStub. Rationale: at
present
both elements are optional, so StubCalculationPeriodAmount can be
produced with no stub content, contrary to the documented intended
usage, while remaining schema-valid. This change aligns the content
model with the analagous StubCalculationPeriod in eq-shared.
I believe these changes are straighforward rationalisations of the model
-
your comments and observations are invited.
Best regards,
Harry McAllister
Chair, FpML IRD-WG
Fixed Income Architecture
BNP Paribas
+44 20 7595 3416
This message and any attachments (the "message") is
intended solely for the addressees and is confidential.
If you receive this message in error, please delete it and
immediately notify the sender. Any use not in accord with
its purpose, any dissemination or disclosure, either whole
or partial, is prohibited except formal approval. The internet
can not guarantee the integrity of this message.
BNP PARIBAS (and its subsidiaries) shall (will) not
therefore be liable for the message if modified.
************************************************************************
**********************
BNP Paribas Private Bank London Branch is authorised
by CECEI & AMF and is regulated by the Financial Services
Authority for the conduct of its investment business in
the United Kingdom.
BNP Paribas Securities Services London Branch is authorised
by CECEI & AMF and is regulated by the Financial Services
Authority for the conduct of its investment business in
the United Kingdom.
BNP Paribas Fund Services UK Limited is authorised and
regulated by the Financial Services Authority
**************************************************************************************************************************
The information contained in either this email and, if applicable, the
attachment, are confidential and are intended only for the recipient. The
contents of either the email or the attachment may not be disclosed or used
by anyone other than the addressee. If you are not the intended
recipient(s), any use, disclosure, copying, or distribution is prohibited
and may be unlawful. If you have received this communication in error,
please notify us by e-mail at isda@xxxxxxxx then delete the e-mail and all
attachments and any copies thereof. This communication is part of an ISDA
process and is not intended for unauthorized use or distribution.
**************************************************************************************************************************
-------------------------------------------------------------------------------
To unsubscribe: Email majordomo@xxxxxxxx with a blank subject line
In the body include the line: unsubscribe irdwg youremail@address
To view archives: http://www.fpml.org/_wgmail/_irdwgmail/threads.html