All,
I think it is fair
to say that yesterday’s meeting where we started to address the comments
on Andrew’s paper was not a great success and did not achieve much in the
hour. I am very aware that we all give of our time freely to participate
in the Val WG and I don’t think it is a sound idea to have a repeat of
yesterday’s meeting next week.
I have been thinking
about how, as chair of the group, I can try and make this process more
constructive and effective. I therefore have set the following plan.
The significant
rules related comments will be extracted from paper and raised as issues in the
FpML database. This serves the purpose of focussing attention on the
rules specific comments which can be addressed and resolved in relation to the
validation rules.
Once these have been
resolved, the paper will be re-addressed with the outcome of the issues
described above integrated into the paper. It is my proposal that this
re-work of the paper is be conducted by ISDA. Once the paper has been
reworked in this manner, the paper specific issues that remain can then be
discussed – hopefully in a constructive manner in the Val WG meetings.
If the issues are
raised in the database in a timely fashion, I propose that we have our regular
meeting next week (3rd Feb). If they have not been raised we
will have the meeting the following Tuesday (10th Feb).
Regards
Pam