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afire
Posted on: 2010/12/21 13:39
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Joined: 2010/10/28
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The difference between Confirmation & Reporting
Hello
I'd like to use the XSDs of version 5.0
They can be found in Confirmation & Reporting
The two sets of XSDs are similar but not identical which set should be used?

Also in version 4.8 there is a merged schema, I don't see one in version 5.0
Is it no longer available?

Thank you
lyteck
Posted on: 2010/12/21 14:31
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Joined: 2007/9/13
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Posts: 19
Re: The difference between Confirmation & Reporting
Hi:

Thank you for the good questions.

FpML 5.x introduces the concept of views. A view presents a variation of the FpML schema targeted for a particular application. In FpML 5 there are two views: Confirmation and Reporting, as you've noted.

You would choose one view over another depending on what type of application you're implementing.
- The confirmation view is a strict schema where most elements are mandatory. The product representation in the 5.x confirmation view is the same as in 4.8+
- The reporting view is a looser version of the schema where almost all the elements are optional by design. This is useful in situations where not all elements are known, or requirements vary e.g., reports. You pick and choose which fields you need for your application.
- More views maybe added in the future. (these 2 views are derived from a master schema which is also avaiable for download, although that master schema is not meant to be used for direct implementation. One of the views should do the work for your purpose.

In 4.8 there's indeed a merged schema but we haven't published a merged schema for 5.x. We may consider publishing one. Note that the standard schema (multiple XSD files) and merged schema (one XSD file) should be equivalent, of course.

Hope this helps, let us know if anything else.

Best,
Lyteck
ISDA / FpML
kevin120
Posted on: 2011/4/28 13:22
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Joined: 2011/2/10
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Posts: 2
Re: The difference between Confirmation & Reporting
Hi,

Thanks for your explanation.

I have the same question whether I should choose Confirmation or Reporting.

While my system accepts events for pairing, so there is no doubt those events would be covered by requestConfirmation. But the system also has another data source, which feeds pre-confirmed trades.

Technically, both feeds of data will be processed by the same engine and database. I wonder if those pre-confirmed trades should also be covered by requestConfirmation.

Thanks,
Kevin
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