The constraint ref-10 needs a guard on the existence of the tested item. The rule today: ” ref-10 (Mandatory) Context: PaymentCalculationPeriod (complex type) The @href attribute = the @id attribute of an element of type PricingStructure. ” The problem is that //element(*, PaymentCalculationPeriod)/@href is optional. The rule could be rewritten as: ” ref-10 (Mandatory) Context: … Continued
The problem with ird-36 is that it is currently undefined in how to do calculations that mix days and weeks. The rule today is: ” ird-36 (Mandatory) Context: PaymentDates (complex type) [exists(firstPaymentDate)] [exists(lastRegularPaymentDate)] The period defined by the dates firstPaymentDate and lastRegularPaymentDate must be an integer multiple of paymentFrequency. ” The problem is that one … Continued
The definition of “the schedule implied by” is itself not precise, nor complete. The definition today is: ” Term: the schedule implied by The schedule defined by the effective- and termination-Date, together with the “RegularPeriod” dates which may appear optionally in the presence of stubs, and the calculation period frequency. ” 1. The first change … Continued
The constraints ird-55 and ref-8 are very similar and overlap. ref-8 is in a more general form than ird-55. ref-8 applies anywhere, where as ird-55 applies to traditional one trade in a document structures.
The constraint ird-56 can be retired (deprecated), in favour of ref-12. Both rules are very similar and overlap considerably. ref-12 is the more general form of the rule that applies in any kind of document structure, rather than ird-56 which is for the more traditional single trade only document.
The sample file invalid-ird-57-01.xml is also invalid against the rule invalid-ird-58. Please ensure invalid-ird-57-01.xml is valid against all rules except ird-57.
the constraint ird-56 needs guards on its optional fields. The rule today is: ” ird-56 (Mandatory) Context: InterestRateStream (complex type) The paymentDates/resetDatesReference/@href attribute = the resetDates/@id attribute. ” The proposed rules is: ” ” ird-56 (Mandatory) Context: InterestRateStream (complex type) [exists(paymentDates/resetDatesReference)][exists(resetDates)] The paymentDates/resetDatesReference/@href attribute = the resetDates/@id attribute. ” Without the guard the rule doesn’t … Continued
ird-57 should use the approved mathematical notation in the FpML Validation Architecture. It at least needs aligning with ird-58. The rule today: ” ird-57 (Mandatory) Context: CalculationPeriodFrequency (complex type) [isParametric] [rollConvention != (“NONE”, “SFE”, “MON”, “TUE”, “WED”, “THU”, “FRI”, “SAT”,”SUN”)] period must be M or Y. ” The proposed resolution: ” ird-57 (Mandatory) Context: CalculationPeriodFrequency … Continued
Please convert the condition “isParametric” to a function. This is a function as per the FpML Validation Architecture. Providing this is as a function would make it clear the context of the evaluation of this function. rules-english-ird.html#isParametric
In FpML Rules, the Literal values are indicated visually by a special style. This separates them from XPath and English narrative. This is missing from the guard conditions for the Roll Convention on ird-58. Please add the special style for the literal values.