Last Call Working Draft of FpML Version 4.5

ISDA has published a Last Call Working Draft for FpML Version 4.5.

This Working Draft is available on the FpML website in the Specifications section at: http://www.fpml.org/spec/fpml-4-5-3-lcwd-1/

The following is an overview of the changes compared with the Second Working Draft for FpML Version 4.5, which was published on October 10, 2008.
- Commodity Derivatives:
- Additional elements have been added to fully support freight transactions documented according to Sub-Annex I of the ISDA Commodity Definitions:
- Amended the Commodity FX structure.
- The repeating spreadStep element has been moved to within a spreadSchedule element for consistency with other representations elsewhere in the schema

- Equity Derivatives:
- Added support for Equity Swaps on Americas Index underlyers.
- Commercial Loan:
- Amended Letter of Credit balance notice, Letter of Credit termination notice, Letter of Credit issuance notice, and Rollover notice.
- Added Support for Letter of Credit amendment notice.
- Added support for a notice used to notify changes in the pricing of a given facility.
- Added support for a report message of the lender position history that can be used for reconciliation purposes.

- Coding Schemes:
- Commodity Reference Price scheme with standard description for each code (without full ISDA description) has been added.
- The loan Position Change Type scheme has been added.
- Commodity Business Calendar scheme has been updated.
- Master Confirmation Type has been updated.
- Contractual Definitions scheme has been updated.

- Validation Rules:
- Syntax for validation rules has been updated based on the new validation rule specification.

- The following issues have been resolved:
- http://www.fpml.org/issues/view.php?id=864
- http://www.fpml.org/issues/view.php?id=863
- http://www.fpml.org/issues/view.php?id=860
- http://www.fpml.org/issues/view.php?id=859
- http://www.fpml.org/issues/view.php?id=858
- http://www.fpml.org/issues/view.php?id=857
- http://www.fpml.org/issues/view.php?id=855
- http://www.fpml.org/issues/view.php?id=852
- http://www.fpml.org/issues/view.php?id=851
- http://www.fpml.org/issues/view.php?id=840
- http://www.fpml.org/issues/view.php?id=839
- http://www.fpml.org/issues/view.php?id=838
- http://www.fpml.org/issues/view.php?id=837
- http://www.fpml.org/issues/view.php?id=810

More information on the timing of version 4.5 and the coverage and timing of future versions can be found in the FpML roadmap: http://www.fpml.org/roadmap/roadmap.pdf

Please send your comments to us by filling in the form at http://www.fpml.org/issues

The FpML Team