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fx-10 is currently defined as: ” fx-10 (Mandatory) Context: FxAverageRateObservationSchedule (complex type) The observation period defined by observationStartDate and observationEndDate should be an integer multiple of the calculationPeriodFrequency. ” This calculation only makes sense where /FpML/trade/fxAverageRateOption/averageRateObservationSchedule/calculationPeriodFrequency/period is a day. It does not make sense to divide days by months, years, or anything else. The additional … Continued

The Condition “SameCurrencyScheme” should be a function according to the FpML Rules Specification. Please rewrite this as a function. ” Condition: SameCurrencyScheme Elements containing currency code values (e.g. GBP, USD, etc.) can only be tested for equality or inequality if they are both reference the same currency scheme URI in their currencyScheme attribute. ” There … Continued

fx-2 requires changing to follow the specification guidelines to use exists() as a function. The rule today is: ” fx-2 (Mandatory) Context: ExchangeRate (complex type) [exists(forwardPoints)] spotRate must exist. ” The rule should be: ” fx-2 (Mandatory) Context: ExchangeRate (complex type) [exists(forwardPoints)] exists(spotRate) “

The rule says: ref-6 (Mandatory) Context: InterestCalculationReference (complex type) The @href attribute = the @id attribute of an element of type InterestCalculation. But The InterestCalculation type does not have any attributes so it can’t be referenced. From examining the examples the correct referenced type is Rate which has an associates RateReference type an is validated … Continued

The valuation schema defines a two referencable data containing types ‘SensitivitySetDefinition’ and ‘SensitivitySet’ but one only reference type ‘SensitivitySetReference’ which is defined as a ‘Reference to a sensitivity set’ but used by the SensitivitySet/definitionReference as ‘A reference to a sensitivity set definition’. The use of the same type to reference elements of two different types … Continued

The data content of this file fails validation rule ref-1 (an AssetReference’s @href must refer to an Asset’s @id). Within the block there is an href to a defintion but YieldCurve type is not derived from Asset so this is an invalid target for the link. USD Swaption Vol Matrix USD 3M-LIBOR USD The example … Continued

These two rules have the same definition. Remove ref-39. ref-26 (Mandatory) The @href attribute must match the @id attribute of an element of type BusinessCenters. ref-39 (Mandatory) The @href attribute must match the @id attribute of an element of type BusinessCenters.

The valwg agreed (8/26/2008) to implement exists (and others) tests as Xpath expressions within Conditions (see issue 613, closed) e.g., [exists(xyz)] vs “xyz exists” [not(exists(xyz))] vs “xyz does not exist” [count(xzy)>1] vs “at least 2 xzy elements exist” There are a number of new issues raised to expand the implementation throughout rule definitions. If we … Continued

Please fix invalid-ln-31-01.xml so it is invalid for ln-30 and valid for ln-20 and ln-21.

Please correct invalid-ln-30-01.xml so it is invalid for ln-30 and valid for ln-20 and ln-21.