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So that schema validation tools, business rules, … work without additional setup

The invalid example is valid. swapStream[1] has calculationPeriodAmount/calculation/fixedRateSchedule swapStream[2] doesn’t have calculationPeriodAmount/calculation/fixedRateSchedule swapStream[2] has resetDates swapStream[1] doesn’t have resetDates

At first I thought: invalid-ird-1-02.xml should be invalid for rule ird-1. However it is valid. Both interest rate streams are valid: * Stream 1 has resetDates but no calculationPeriodAmount/fixedRateSchedule calculation * Stream 2 has no resetDates but has a calculationPeriodAmount/calculation/fixedRateSchedule

On page http://www.fpml.org/spec/2007/wd-fpml-4-3-2007-07-30/html/validation-rules/rules-english-ird.html the three hyperlinks on this text point to non-existent targets. * regular period * frequency equivalence * unadjusted calculation period dates

The IRD precondition is: ” Precondition: isParametric The ancestor element of type InterestRateStream contains no cashflows element, or cashflows/cashflowsMatchParameters contains true. ” A plain English reading of this would give me the following test in XPath: fn:contains($interestRateStream/cashflows/cashflowsMatchParameters, “true”) I suspect that this is incorrect and the form of words needs to be corrected. It needs … Continued

The isParametric precondition for IRD states: “Precondition: isParametric The ancestor element of type InterestRateStream contains no cashflows element, or cashflows/cashflowsMatchParameters contains true.” In plain English this would for an experienced XML user mean that no child of InterestRateStream contains cashflows elements. I don’t think this is what is meant. I think what is meant is … Continued

The IRD rules state as a precondition: “Preconditions 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: isParametric The ancestor element of type InterestRateStream contains no cashflows element, or cashflows/cashflowsMatchParameters contains true.” http://www.fpml.org/spec/2007/wd-fpml-4-3-2007-07-30/html/validation-rules/rules-english-ird.html … Continued

The fxSpotRateSource.primaryRateSource.rateSourcePageHeading element does not have documentation on how to use it or any sample messages that use it. Furthermore, two Reuters FX screen shots are attached below and the Equity FpML WG could not identify which field on the screen shot would map to the rateSourcePageHeading.

In section 4.5 it states: ” * Well-formed: The document meets the basic XML well-formedness constraints, all tags are terminated with matching end tags and the character set is valid. * Syntactically valid: The document is valid against the latest FpML schema published by the Architecture Working Group. * Semantically valid: The document is valid … Continued

pr-2 states: ” Context: PaymentCalculationPeriod pr-2 (Mandatory) If paymentCalculationPeriod/@href attribute is present, it must match the @id attribute of PricingInput type ” However paymentCalculationPeriod/@href and PricingInput are not visible within the context of PaymentCalculationPeriod. I am not sure how to interpret this. It needs an expert to make it clear. It looks to me as … Continued