FpML 4.2 Working Draft, 4 May 2005 Errata
1 About this document
2 How this document is organized
3 Issues
3.1 tradeSide
3.2 RoutingId
3.3 Stub Field population - examples ird02 and ird05
3.4 Version attribute - Equity Variance Swap Examples
3.5 Typo in AllocationAmended Message
This document lists the known errata to the FpML 4.2 Working Draft, 4 May 2005.
Each erratum entry below has the following information:
- A unique entry number.
- The date that it was added to the errata page.
- Whether the entry is considered an important error, a minor typographical error, a clarification, or a known problem with the document itself.
- The document version and section referred to.
- The location of the error.
- A description of the problem and correction if applicable.
The following issues are known in the FpML 4.2 Working Draft, 4 May 2005:
- ID: 1
- Date Added: 2005-05-17
- Severity: High
- Version: wd-fpml-4-2-2005-05-04
- Location: fpml-doc-4-2.xsd
- Description: the tradeSide element is contained within two types: DataDocument and Trade. However, it should be contained within Trade only, not DataDocument, as agreed by the Messaging Working Group.
- Disposition: This will be corrected in the next release for version 4.2 (probably Last Call Working Draft). The tradeSide element will be removed from the DataDocument type.
- ID: 2
- Date Added: 2005-05-17
- Severity: Low
- Version: wd-fpml-4-2-2005-05-04
- Location: fpml-shared-4-2.xsd
- Description: In the examples the routingId elements is used to hold a BIC code for a bank. As such you would expect the qualifying scheme to be http://www.fpml.org/ext/iso9362 but this is not the case. In FpML 4-0 this elements scheme attribute is defaulted to http://www.fpml.org/spec/2002/routing-id-code-1-0 which defines types of routing codes (BIC, CHAPS, etc). Hence a 'legal' instance of this element would be the routingId element containing the value 'BIC' which it was not intended.
- Disposition: This will be corrected in the next release for version 4.2 (probably Last Call Working Draft). The default scheme for the RoutingId type will be changed to http://www.fpml.org/ext/iso9362 and the routing-id-code scheme will be dropped. Examples will be updated accordingly.
- ID: 3
- Date Added: 2005-06-06
- Severity: Low
- Version: wd-fpml-4-2-2005-05-04
- Location: ird_ex02_stub_amort_swap.xml, ird_ex05_long_stub_swap.xml
- Description: When FpML 1.0 was defined for interest rate swaps we defined the rule that firstPaymentDate "must only be included if there is an initial stub". This definition remains in the FpML 4.x standard today for interest rate components. The rationale was that for vanilla swaps (without stubs) we wanted to make the FpML representation as simple as possible to generate, i.e. without needing to implement any date logic to calculate payment schedules. firstPaymentDate is missing from the IRD example 5 (and also example 2).
- Disposition: This will be corrected in the next release for version 4.2 (probably Last Call Working Draft). The ird_ex02_stub_amort_swap.xml and ird_ex05_long_stub_swap.xml examples will be updated.
- ID: 4
- Date Added: 2005-07-25
- Severity: High
- Version: wd-fpml-4-2-2005-05-04
- Location: eqvs_ex01_variance_swap_index.xml, eqvs_ex02_variance_swap_single_stock.xml
- Description: The FpML 4.2 variance swap examples (in the eqvs directory) have a version attribute of 4-1, not 4-2.
- Disposition: This has been corrected in this Working Draft. The version attribute has been changed to 4-2.
- ID: 5
- Date Added: 2005-07-29
- Severity: Medium
- Version: wd-fpml-4-2-2005-05-04
- Location: fpml-posttrade-4-2.xsd
- Description: The FpML 4.2 AllocationAmended message type has a typo. The originalTradeIdentifier element was misspelled, the first "i" was missing.
- Disposition: This will be corrected in the next release for version 4.2 (probably Last Call Working Draft). The schema file fpml-posttrade-4-2.xsd will be updated.
Last Updated: Fri 07/29/2005 11:25:35.84
