Author: Admin

499: invalid-ird-1-04.xml is valid

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The invalid example is valid. swapStream[1] has calculationPeriodAmount/calculation/fixedRateSchedule swapStream[2] doesn’t have calculationPeriodAmount/calculation/fixedRateSchedule swapStream[2] has resetDates swapStream[1] doesn’t have resetDates

498: Confused on ird-1

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At first I thought: invalid-ird-1-02.xml should be invalid for rule ird-1. However it is valid. Both interest rate streams are valid: * Stream 1 has resetDates but no calculationPeriodAmount/fixedRateSchedule calculation * Stream 2 has no resetDates but has a calculationPeriodAmount/calculation/fixedRateSchedule

497: Missing id targets in HTML

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On page http://www.fpml.org/spec/2007/wd-fpml-4-3-2007-07-30/html/validation-rules/rules-english-ird.html the three hyperlinks on this text point to non-existent targets. * regular period * frequency equivalence * unadjusted calculation period dates

496: “contains true” replaced with “equal to true”

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The IRD precondition is: ” Precondition: isParametric The ancestor element of type InterestRateStream contains no cashflows element, or cashflows/cashflowsMatchParameters contains true. ” A plain English reading of this would give me the following test in XPath: fn:contains($interestRateStream/cashflows/cashflowsMatchParameters, “true”) I suspect that this is incorrect and the form of words needs to be corrected. It needs … Continued

495: IRD isParametric precondition should be descendants rather than contains

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The isParametric precondition for IRD states: “Precondition: isParametric The ancestor element of type InterestRateStream contains no cashflows element, or cashflows/cashflowsMatchParameters contains true.” In plain English this would for an experienced XML user mean that no child of InterestRateStream contains cashflows elements. I don’t think this is what is meant. I think what is meant is … Continued

494: IRD precondition should be parent, not ancestor

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The IRD rules state as a precondition: “Preconditions The following preconditions are always to be executed relative to the root of the FpML document being validated. The context of the rule is NOT carried through to the precondition. Precondition: isParametric The ancestor element of type InterestRateStream contains no cashflows element, or cashflows/cashflowsMatchParameters contains true.” http://www.fpml.org/spec/2007/wd-fpml-4-3-2007-07-30/html/validation-rules/rules-english-ird.html … Continued