The rule today: ” Context: Trade (complex type) eqd-1 (Mandatory) //equityExercise/equityAmericanExercise/commencementDate/adjustableDate/unadjustedDate must be equal to tradeHeader/tradeDate. ” The problem is that not every Trade has a //equityAmericanExercise. For example IRS and CDS Trades will not have an equityAmericanExercise. Solution 1 is to put a filter on the context. In XPath the filter is: ” Context: … Continued
In the section 9.8.2 of fpml-4-3-11-rec-1, [interestRateResetDates] and [interestRatePaymentDates] are mentioned a few times but it seems to me they should be [interestLegResetDates] and [interestLegPaymentDates] respectively.
Given that the interpolationMethod element is mandatory within inflationRateCalculation there is currently no way of specifing cases where no interpolation applies. I suggest adding a value of “None”. None FpML No Interpolation applicable
I’ve a need for Option Exercise /Expiry messages. Issue 184 and the archive email threads suggest FpML has a model for Option Exercise/Expiry that was due for addition to FpML 4.3. I see from the roadmap this is now scheduled for FpML 4.5. Could I request a pointer to the draft schema for this (Is … Continued
There is a problem in FpML business ‘object’ identification. Two messages about the same ‘object’ might not have a shared identifier, but a third messages contains the identifiers used in the first and second message. This requires us to day to link the first and second messages based on the new knowledge. This is complex … Continued
The ISDA1999 Precondition doesn’t cope with optional elements. http://www.fpml.org/spec/fpml-4-4-5-lcwd-1/html/index.html ” Precondition: ISDA1999 (context: Trade) (context: Contract) The documentation/contractualDefinitions element or the documentation/masterConfirmation/masterConfirmationType element contains ISDA1999Credit. ” This is clear when either both or either element exists, but undefined when neither element exists. If neither element exists is the result true, false, or undefined?
Two conflicting definitions of the precondition context are given. http://www.fpml.org/spec/fpml-4-4-5-lcwd-1/html/index.html “Preconditions The Validation Preconditions only apply when specific rules reference them. 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: SameCurrency All instances … Continued
The completion of the lifecycle of a Contract is either: Cancelled, Terminated, Novated, or Expired. All of these interactions have an observable completion except for Expired. Section 3.1.2 of the Business Process Architecture states: “All business process definitions must have an observable completion. The set of messages defining a business process needs to be complete. … Continued
cd-33 today is: ” Context: PeriodicPayment (complex type) cd-33 (Mandatory) If both firstPaymentDate and lastRegularPaymentDate are present, then lastRegularPaymentDate must fall precisely on a date reachable by adding an integer multiple of the period in paymentFrequency to firstPaymentDate. ” Section 4.6.2 of the manual states: “http://www.fpml.org/spec/fpml-4-4-4-wd-3/html/fpml-4-4-intro.html#s4.6.2 The evaluation of dates in the validation rules is … Continued
It is impossible to unambiguously correlate from ContractFullTerminationCancelled to ContractFullTermination. There is no unique identifier for a ContractFullTermination, so there is no way to always tie it back to a unique ContractFullTerminationCancelled. There are various ways of matching based on TradeId, versionId, etc., but these don’t guarantee unique correlation. One possible solution is to add … Continued