Credit Derivatives Working Group

Group Information

Mission: Expand and adjust the Credit Derivatives product architecture and provide input to define the necessary business processes.

Chairs of Working Group

John Booth (MarkitServ)

Participants

See section 1 of a particular Recommendation for the list of contributors.

Group Charter

Scope:
Specifically for version 5.9 the group will look to:
– Extend the current FpML standard by defining the necessary data elements for supporting a cash
flow representation for Credit Derivatives
– Improve Credit Derivatives product Architecture documentation and examples to support the ISDA
2014 Credit definitions.
Deliverables:
– Updated CD product Architecture document and instance documents to support the 2014 ISDA
Credit definitions.
– Schema changes and corresponding documentation for Cash flow representation
The scope of this working group is limited to version 5.9 of the FpML standard. Version 5.9 is expected to
become a Recommendation in Q1 2016. Any expansion of the scope beyond the above mentioned will
require Standards Committee approval.

 

Meeting Schedule:
The group will meet on bi-weekly basis and adjust to weekly when necessary.
A group discussion list will be used to manage group communication and to provide an archive of
discussions and decisions.
 
Rules of Operation:
The working group will adopt the FpML Working Group Rules of Operation. These outline best-practices
for meetings, managing member participation, reaching group consensus and voting.
 
Estimated time commitment from Participants:
Members should be prepared to commit approximately 4 hours per week for meeting participation and
document review. Full members must have the agreement and support of their management before signing
up to the Working Group.
It is expected that participants will be signing up for action items and proposals, and will generally be
participating in discussions during the week. Participants will also need to liaise with other working group
members to ensure the consistency of the standard.
 
Target Participants: derivatives dealers, buy-side institutions, execution facilities, trade repositories,
others as interested

 

Milestones

Date for completion

Kick-Off Meeting
September 2016
Working Draft for review
September 2016

Mailing List