FpML Issues Tracker

1166: FpML 5.x rule update for Party/Account changes is incomplete

March 15, 2013

closed

Minor

Always

Validation Rules

Admin

danieldui

Summary

As a result of the repositioning of Account outside Party in FpML 5.0 a validation check for different parties on a trade obligation requires the party references to be compared and possibly the account references. The general form of this comparison is

xxxPartyReference/@href != yyyPartyReference/@hef or (exists (xxxAccountReference/@href) and exists (yyyAccountReference/@href) and xxxAccountReference/@href != yyyAccountReference/@href)

where xxx/yyy are payer/receiver or buyer/seller

In the 5.x validation ruleset the following rules and their corresponding test cases need updating to include the account references.

ird-8 payer/receiver in InterestRateStream shared-29 buyer/seller in various structures

I think it may be worth removing rule ird-8 in favour of a new shared rule (like shared-29) that applies to the all the context points for the PayerReceiver.model.

Notes:

  • danieldui

    10/22/13 1:18 pm

    In fpml-5-6-3…

    – ird-8 is correct

    – shared-29 still needs to be updated

    Actions:

    DD: Propose new formulation for shared-29.

  • mgratacos

    10/03/18 5:27 am

    Assigned to mgratacos.

  • mgratacos

    09/17/19 3:57 am

    Proposed update for shared-29:

    Context: CancelableProvision (complex type)
    CommodityOption (complex type)
    EquityDerivativeBase (complex type)
    ExtendibleProvision (complex type)
    Fra (complex type)
    GeneralTerms (complex type)
    GenericProduct (complex type)
    InstrumentTradeDetails (complex type)
    Option (complex type)
    ReturnSwapBase (complex type)
    SinglePartyOption (complex type)
    Swaption (complex type)

    The @href attribute of buyerPartyReference must not be equal to the @href attribute of sellerPartyReference. If they are equal, and if buyerAccountReference and sellerAccountReference both exist, the @href attribute of buyerAccountReference must not be equal to the @href attribute of sellerAccountReference

    XPath Description:

    (buyerPartyReference/@href ne sellerPartyRefernce/@href) or (if ((buyerPartyReference/@href eq sellerPartyReference/@href) and exists(buyerAccountReference) and exists(sellerAccountReference)) then (buyerAccountReference/@href ne sellerAccountReference/@href))

  • mgratacos

    10/01/19 4:29 am

    We need to add test cases.

  • mgratacos

    10/07/19 11:21 am

    Updated rule shared-29 and test cases. This will be published in 5.11 Trial Recommendation.

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