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Commodity Reporting Working Group

bullet Group Charter

Title of Working Group Commodity Reporting Working Group

Chair of Working Group Brian Lynn (Global Electronic Markets)

Participants Representatives of
  • commodity derivatives dealers (sell side and clearing)
  • clearing houses
  • CFTC
  • other interested parties, e.g. commodity systems vendors

Mission:

Extend the current FpML standard to define reports covering the CFTC’s 17 CFR Part 20 regulations,
which require reporting of positions in a number of covered commodities resulting from OTC swaps and options trading activity.

Note: the working group builds on initial work done in this area by a Task Force

Scope:

Develop FpML schemas and examples, coding schemes, and supporting documentation to support the Part 20 reporting effort.
Specific objectives will include:

  1. Review Part 20 reporting requirements published* by the CFTC and identify any gaps or areas of lack of clarity.
  2. Develop and review schemas and examples corresponding to the CFTC regulations
  3. Identify any additional product types or scenarios that would require additional examples
  4. Resolve any representation issues that would prevent the efficient production and effective use of the report
  5. Ensure that all necessary coding scheme have been identified, initial values defined, and process for maintenance defined.

Milestones Date for completion:
Kick-Off Meeting September 28, 2011
Internal draft including sample reporting messages for review August/September 2011
Working draft published on FpML.org September 30, 2011 Starting in version 5.3 WD1

Meeting Schedule

The group will meet once a week for one hour by teleconference:
  • Wednesdays (at 12pm New York / 11am central / 5pm London)
We'll have additional thread meetings as needed.

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 2-4 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.

Experience has shown that occasional face-to-face meetings can expedite the process so members should be aware that some travel and full-day meetings might be required

Target Participants: Business analysts, technical architects, business specialists





bullet Chair Contact Information

Chair of Working Group: Brian Lynn (Global Electronic Markets)
Chair Email Contact: