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Attendees ======== Chris Funck, Chatham Chuck Kahl, HSBC Bruno Baccaria, Citadel Mike Kopcak, DTCC Martin Sexton, London Market Systems Ludvig Henriksson, TriOptima Matt Simpson, CME Brian Lynn, GEM Irina Yermakova, ISDA Marc Gratacos, ISDA Apologies ======== Lucio Iida, BGI Jai S., GS 1) Review status of actions a) Brian to continue developing XML examples >> More examples to follow - FX is remaining b) Brian to distribute updated schema >> This was done this past Tuesday c) Brian to look into modeling of 1st calculation period
payment responsibility in novations >> fullFirstCalculationPeriod (boolean
element) in the novation event representation is available for modeling whether the
responsibility for payment for the full first period is being novated with the
trade. Is this sufficient? >> Chris will follow up with Miriam on whether this
is an issue d) Brian to look into defining business requirements for
entity relationships modeling. >> Brian distributed a draft charter.
Discussion comments are below. Brian will update the charter to reflect the feedback. e) Marc to look into business requirements on aggregate notional
reporting. 2) Discuss updated charter >> We reviewed the charter. Some feedback included: On the entity modeling, the group agreed that the first
priority should be reporting transaction level entity relationships, and that
we should follow up with the regulators on what their requirements would be for
reporting relationships between entities (outside of a specific
transaction). However, Matt S. pointed out that regulators may wish to be
able to obtain entity relationship reference data in order to get an overall
picture of exposure where it is not worth reporting at a transaction level
(e.g. for subsidiary relationships). >> Marc commented that we will need to work out which
regulator looks at entity relationships. (The regulators’ forum initiated the request). On the aggregate reporting, we agreed to put this at a
lower priority and to focus on gathering requirements. Marc Gratacos will
try to see if he can get some of the requirements he has seen made more
publically available. Brian agreed to discuss with Karel Engelen of ISDA
whether they would “seed” the requirements by using ISDA statistics
as a test case for the requirements. (Subsequently Brian raised this with
Karel, who said they would look into it.) 3) Discuss status of WD #4. >> Marc updated the group on status. The
schema is complete and he and Irina are working on getting the examples
organized for the reporting and confirmation views. Next steps is to put
together the documentation. He expects it to be a couple of more weeks to
complete this work, and aims to have the working draft out in December. Next meeting =========== Dec. 7 – review charter, business requirements for
entity modeling, discuss meeting schedule |