Business Center Scheme – Abu Dhabi Securities Exchange

[v_venkie]

All,

In FpML, we have a business center for Abu dhabi setup with AEAD as code.

Recently, we have been given a requirement to support payment calendar for Abu Dhabi Securities Exchange (ADX). The holiday calendar for ADX is different to what we have under AEAD. Looking at the FpML standard, business center codes are based on the business calendar location some of which based on the ISO country code or exchange code, or some other codes. In this case, given its an exchange code, do you know how this can be represented in the FpML? I see we have done something similar to Brazil with 4 codes but not sure why something similar hasnt been done for Abu Dhabi.

Questions
1. How do we represent Abu Dhabi Securities Exchange as a business center in FpML?
2. How can we request an update to official scheme to include this?

Appreciate your response.

Thanks!

Regards
Venkatesh

[iyermakova]

We will propose to add ADSS – for Abu Dhabi Securities Exchange

[v_venkie]

We ended up using ADX because this is inline with FpML definition to use Exchange codes

The codes are based on the business calendar location some of which based on the ISO country code or exchange code, or some other codes

Will be good to get this added to the official scheme

[iyermakova]

FpML is using 4 characters code for a business calendar location.
Ex. NYSE – for NEW YORK STOCK EXCHANGE (https://www.fpml.org/coding-scheme/business-center)
ADSM – is an acronym for ABU DHABI SECURITIES EXCHANGE (source: https://www.iso20022.org/10383/iso-10383-market-identifier-codes). We will propose this code.

[iyermakova]

duplicate response

[v_venkie]

FpML scheme already has 3 character code for exchange codes. The character length isnt fixed

ASX Australian Securities Exchange http://www.asx.com.au/

[iyermakova]

Hi Venkatesh,
what FpML coding scheme are you looking at? FpML business calendar location coding scheme includes 4-character codes (see the coding scheme – https://www.fpml.org/coding-scheme/business-center )

Thank you,
Irina Yermakova

[v_venkie]

Hi Irina,

Commodity Business Calendar scheme has ASX.

for business center, the key point to consider is the scheme description == The codes are based on the business calendar location some of which based on the ISO country code or exchange code, or some other codes

The 4 letter constraint applies only when we are building something custom as per the rules below

Additional business day calendar location codes could be built according to the following rules: the first two characters represent the ISO country code [https://www.iso.org/obp/ui/#search], the next two characters represent either a) the first two letters of the location, if the location name is one word, b) the first letter of the first word followed by the first letter of the second word, if the location name consists of at least two words

Hope this clarifies

[iyermakova]

Hi Venkatesh,
FpML Architecture Working Group (AWG) reviewed your request to add Abu Dhabi Securities Exchange to the FpML Commodity Business Calendar coding scheme and agreed to add “ADSM” code for this exchange. The code has been added to https://www.fpml.org/coding-scheme/commodity-business-calendar.

The AWG also provided the rules for adding exchange codes to FpML coding schemes (e.g. FpML commodity-business-calendar and business-center ):
“Exchange codes could be added based on the ISO 10383 MIC code [ https://www.iso20022.org/sites/default/files/ISO10383_MIC/ISO10383_MIC.xls%5D according to the following rules:
1. it would be the acronym of the MIC. If acronym is not available
2. it would be the MIC code. If the MIC code starts with an “X”,
3. the FpML AWG will compose the code.”
The rule will be added to the affected coding schemes.

Best regards,
Irina Yermakova

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