Thanks. We independently match - my list was the same as yours, which is reassuring: http://www.fpml.org/issues/view.php?id=917
If you wrote out all the rules how did you deal with where the PeriodEnum value is "T" but there is no definition of what "T" is? This is my biggest obstacle to completing the rules: http://www.fpml.org/issues/view.php?id=910
Matthew +44 7917 596 827
-----Original Message-----
From: valwg@xxxxxxxx [mailto:valwg@xxxxxxxx] On Behalf Of Christian Nentwich
Sent: 24 March 2009 12:31
To: valwg@xxxxxxxx
Cc: Andrew P Parry
Subject: Re: FpML-VAL clarification on FX rules' "same-currency"
Matthew,
fx-19, fx-23, fx-43. If you are raising the issue, please include those.
I wrote all the FX rules in NRL yesterday, so spotted it by chance.
regards,
Christian
Matthew D Rawlings wrote:
Hi Christian -
Yes, it's a bug.
The function is supposed to be same-currency-scheme(). The mistake was replacing same-currency-scheme same-currency.
It was first spotted before during a VWG review in August 2008. We had agreed to define our terms clearly and were restating the terms as function with a proper context. The term SameCurrencyScheme was replaced with the function same-currency(). We wanted the clear definition, but also the right function. The VWG agreed to fix the problem, and in revision 4629
It went back to the SameCurrencyScheme term for most cases, but not all, and not the function same-currency-scheme().
I shall raise an issue with a solution to get it fixed.
Did you find it by chance, or did you reason over the rules? Do you know the list of all rules that need fixing.
Introduced 4629
It should be:
fx-19 (Mandatory)
English Description:
Context: FxLeg (complex type)
If exchangedCurrency1/paymentAmount and exchangedCurrency2/paymentAmount have the same currency scheme, then exchangedCurrency1/paymentAmount/currency must not be equal to exchangedCurrency2/paymentAmount/currency
XPath Description:
Context: FxLeg (complex type)
[same-currency-scheme((exchangedCurrency1/paymentAmount,exchangedCurrency2/paymentAmount))]
exchangedCurrency1/paymentAmount/currency ne exchangedCurrency2/paymentAmount/currency
Matthew +44 7917 596 827
-----Original Message-----
From: valwg@xxxxxxxx [mailto:valwg@xxxxxxxx] On Behalf Of Christian Nentwich
Sent: 24 March 2009 11:48
To: valwg@xxxxxxxx
Subject: FpML-VAL clarification on FX rules' "same-currency"
All,
I might be overlooking something here, but there are three or four FX
rules that don't make a lot of sense to me. For example, fx-19:
If exchangedCurrency1/paymentAmount and exchangedCurrency2/paymentAmount have
the same-currency <rules-functions.html#same-currency>,
then exchangedCurrency1/paymentAmount/currency must not be equal
toexchangedCurrency2/paymentAmount/currency
This seems to be saying that if the two currencies are the same, then
they are not the same?
Should these rules be stating "same-currency-scheme", rather than
"same-currency"? Or did I miss something?
regards,
Christian
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without notice. Any comments or statements made herein do not
necessarily reflect those of JPMorgan Chase & Co., its subsidiaries
and affiliates.
This transmission may contain information that is privileged,
confidential, legally privileged, and/or exempt from disclosure
under applicable law. If you are not the intended recipient, you
are hereby notified that any disclosure, copying, distribution, or
use of the information contained herein (including any reliance
thereon) is STRICTLY PROHIBITED. Although this transmission and any
attachments are believed to be free of any virus or other defect
that might affect any computer system into which it is received and
opened, it is the responsibility of the recipient to ensure that it
is virus free and no responsibility is accepted by JPMorgan Chase &
Co., its subsidiaries and affiliates, as applicable, for any loss
or damage arising in any way from its use. If you received this
transmission in error, please immediately contact the sender and
destroy the material in its entirety, whether in electronic or hard
copy format. Thank you.
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disclosures relating to UK legal entities.
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