The invalid example invalid-cd-38-01.xml is valid. The example should be invalid for rule cd-38. The /FpML/trade/creditDefaultSwap/generalTerms/basketReferenceInformation/referencePool/referencePoolItem/constituentWeight/basketPercentage sum to 1. 0.60 Agrium Inc. 008HA7 008916AB4 0.077 2017-02-01 NorthAmericanInvestmentGrade 0.40 Tenet Healthcare Corporation 8G836J 88033GAT7 0.06 2011-12-01 NorthAmericanInvestmentGrade
The example valid XML document valid-cd-38-02.xml is not valid against the rule. Rule cd-38 states today: ” Context: ReferencePool (complex type) cd-38 (Mandatory) The sum of referencePoolItem/constituentWeight/basketPercentage is equal to 1 or no referencePoolItem/constituentWeight exists. ” If any of the //constituentWeight is described using //constituentWeight/openUnit or //constituentWeight/basketAmount then it will not equal the value “1” … Continued
The current schema permits but does not require the use of negative durations. The current architecture does not permit the use of negative payments/cashflows, but instead requires them to be directed. I propose the same principle be extended to durations. As an example look at the shared type Interval.
This is a proposal to express Interval more clearly and succinctly. # Current structure Today the Complex Type Interval is expressed as a sequence of periodMultiplier and period. This requires two rules: Rule 1: If the periodMultiplier is zero, then the period must have the value “D”. Rule 2: If the period has the value … Continued
The Short Form versus the Long Form of a contract should be standardized across the instrument classes. At the moment each instrument class does this differently. # EQD – has separate complex types for Short Form and Long Form. # CDS – has one type and lots of constraints (validation rules) on a ShortForm precondition … Continued
It is apparent across the schemas that Propert (element) names are not consistent. This is an issue to be assigned to the MTF WG. An example of this is “terminationDate”, which for CDS is named “scheduledTerminationDate”. My proposal is property (element) names be made globally consistent.
cd-33 is written partially in the form of an algorithm. It should be rewritten in the form of a rule (a constraint). The rule today is: ” Context: PeriodicPayment (complex type) cd-33 (Mandatory) If both firstPaymentDate and lastRegularPaymentDate are present, then lastRegularPaymentDate must fall precisely on a date reachable by adding an integer multiple of … Continued
cd-32 refers to elements that don’t exist at that context. Based on my experience I think the rule may be off one level on the context. The rule today: ” Context: PeriodicPayment (complex type) cd-32 (Mandatory) Preconditions: LongForm If fixedAmountCalculation exists, it must contain calculationAmount and dayCountFraction. ” IMHO what was probably meant was: ” … Continued
Validation rule cd-43 is missing test cases. The rule requires valid and invalid test cases. The rule today is: ” cd-43 (Mandatory) Preconditions: SingleName If feeLeg/initialPayment exists, then feeLeg/initialPayment/payerPartyReference/@href must be equal to generalTerms/sellerPartyReference/@href and feeLeg/initialPayment/receiverPartyReference/@href must be equal to generalTerms/buyerPartyReference/@href “
cd-24 has a redundant clause. It is not necessary to include “protectionTerms/creditEvents” in addition to “protectionTerms/creditEvents/creditEventNotice”. The rule today: ” cd-24 (Mandatory) Preconditions: LongForm The following elements must be present: protectionTerms/creditEvents, protectionTerms/creditEvents/creditEventNotice, protectionTerms/obligations, generalTerms/referenceInformation/referencePrice. ” My proposed solution is to remove the redundant check. This would make the rule: ” cd-24 (Mandatory) Preconditions: LongForm The … Continued