Moving from 4-6-7-rec-1 to 4-7-7-rec-2 the issues were incountered in change management documentation and versioning of schemes inappropriately. Similar issues were previously seen in moving from 4-2 to 4-6 (unreported) – suggesting procedural problems. It is vital that changes between releases are accurately summarised, and versioning correctly applied.
Please add an XPath description for fx-12.
The Basket type extends Asset rather than UnderlyingAsset. This means that the basket element that’s declared in the underlyingAsset substitution group is illegal. This causes validation errors on XML documents that include an underlyingAsset substitution. Basket correctly extends UnderlyingAsset in 4.7 and 5.0 version, but not in 4.8
The StubValue structure uses two complete ‘FloatingRate’ structures define the rate when an interpolated rate is being used. A simpler model like that used in the FRA product where a single floating rate index and upto two index tenors would be better. The structure should be extended with the optional multipler, spread and cap/floor features … Continued
A FRA can contain (sensibly) either one or two indexTenor instances to define the underlying rate but the model allows an unbounded number to be accepted. Either change the cardinality to 1..2 or change the grammar to ‘indexTenor,indexTenor?’ This bug has existed since FpML 1.0
FX WG has proposed a very informal notation for new rules to address the relationship between currencies in quotedCurrencyPair and the currencies inside the crossRate structures (http://www.fpml.org/_wgmail/_fxwgmail/msg00140.html). Context: exchangeRate[crossRate] There exists exactly one crossRate having either currency1=quotedCurrencyPair/currency1 or currency2=quotedCurrencyPair/currency1 Context: exchangeRate[crossRate] There exists at exactly one crossRate having either currency1=quotedCurrencyPair/currency2 or currency2=quotedCurrencyPair/currency2 Context: crossRate currency1 … Continued
FX WG has finished with its initial review of the Validation Rules for for Redesigned FX product model and is asking Validation Working Group to review the changes and comments, in addition to provide their help to finalize the FX rules for publication in 5-1-LCWD.
The Coordination Committee has agreed during 2010-10-19 teleconference that the Settlement Information discussion and proposal to normalize the settlement information across all products and processes (the settlement information structure should not be a part of the product economics or trade details) will be initiated in the FX WG and then moved to the Coordination Committee … Continued
Coordination Committee has agreed on 2010-10-19 teleconference that it is important for FpML shared payment types to be normalized (to re-use NonNegativePayment type that includes payer/receiver direction, paymentDate and paymentAmount). Since it is a non backward compatible change, the proposal is to deprecate all payment structures in favor of normalized ones. Alternatively, (assuming nobody is … Continued
The Business Rule Validation tool is out of date. Need to update the tool to be able to check FpML examples. FpML publishing examples need to be correct according to the FpML validation rules.