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Attendees ======== Chuck Kahl, HSBC Dinesh Shastri, Bloomberg Lucio Iida, Blackrock Chris Funck, Chatham Irina Yermakova, ISDA Marcelle von Wendland, Fincore Jai S, Goldman Saschs Bruno Beccaria, Citadel Subash, DTCC Sreedhar, DTCC Brian Lynn, GEM Stephen White, State Street Mike Kopcak, DTCC Miriam Steinberg, Apologies ======== Martin Sexton, London Market Systems Marc Gratacos, ISDA Ludvig Henriksson, TriOptima Actions ====== a) Brian to slightly update Entity modeling
plan/requirements >> Brian distributed a draft. New members =========== Marcelle introduced herself, is responsible for data
management at Fincore. She is interested in entity modeling. OMG Cross Asset Reporting Group =============================== Brian discussed the new OMG cross-asset reporting group and
said that FpML has volunteered to collate reporting data requirements developed
by the subgroups. Some of the subgroups are defining requirements for the
various trade reporting repositories that are being developed. Entity Modeling Requirements ======================= We reviewed the remainder of the document. Most was
well-received. >> Brian will update the last section to indicate that
we will wait for regulatory input prior to developing much detail on the
agreements. Party Information model =================== >> We agreed that we should allow multiple ratings, and
multiple sectors Party relationships ============== Marcelle: we should allow reporting of time range of applicability
(effective/termination) - this was noted by several others as well >> Brian will add Can a party fulfill multiply roles? the idea is to
allow multiple relationships between parties – each party appears once,
but the relationships can appear multiple times. ECB (European Central Bank) has a list of party roles
that they find interesting >> Marcelle will provide some examples to help us
refined the roles list. Marcelle: There are several types of guarantees. Some
have what limits. Some are moral and some are legal obligations. >> Marcelle will also provide a list of types of
guarantees. Miriam – maybe we can have a single credit support provider role,
then have the agreement type specify details of the guarantee. E.g.: Unlimited Guarantee vs. Limited Resource Parent company doesn’t have a credit guarantee with
the subsidiary – this creates legal uncertainty A NY branch might trade under parent’s credit rating,
but it can be unclear whether the parent is obligated to pay. Also, does
the credit rating belong to the parent or the child? >>Miriam will create a list of types of credit support
arrangements. We can compare this to Marcelle’s input. Agreement identification model ========================= >>Brian will try modeling a more generic documentation
identifier, to cover agreements other than master agreements and CSA. Next meeting =========== Monday, Dec. 21, 11 AM NY time – review agreement
types, updates to entity model. |