17 CHANGES IN THIS VERSION

17.1 Changes compared to FpML 5.3 WD #1

• In multiple views:
  • Added support for modeling people (such as employees) and business units within parties, and added detail to the partyTradeInformation block to allow their role within a transaction to be recorded. (This is still in progress and may be adjusted in a future draft.)
  • Added several fields to the partyTradeInformation to support SDR reporting (these are mostly needed for recordkeeping view, but are available in other views as well. Fields include "collateralized" indicator, a "boardOfDirectorsApproval", field, and a verificationPurpose field. Also renamed confirmationType to confirmationPurpose. (This is still in progress and may be adjusted in a future draft.)
  • Adjusted the "attachment" element in "documentation" to support multiple attachments per trade.
  • Interest Rate Derivatives:
    • (Excluding Transparency view) Implemented IRD WG proposal to incorporate the new Supplement to the 2006 ISDA Definitions relating to physical settlement of swaptions.
• Recordkeeping:
  • Added several fields to nonPublicExecutionReport to cover feedback from DTCC, including: as-of date field and reportingPurpose field, as well as an optional portfolioReference.
  • Removed trader and unit fields from Recordkeeping - these will be replaced by the new people and business unit representation.
  • Added the valuationReport message to Recordkeeping view.
• The following issues have been resolved:
  • http://www.fpml.org/issues/view.php?id=1073
  • http://www.fpml.org/issues/view.php?id=1070
  • http://www.fpml.org/issues/view.php?id=1063

View PDF for details on schema changes

View SCHEME DEFINITIONS for details on coding schemes changes

• Interest Rate Derivatives:
  • (Excluding Transparency view) Implemented IRD WG proposal to incorporate the new Supplement to the 2006 ISDA Definitions relating to physical settlement of swaptions.
• Message Framework:
  • Added a requestRetransmission message to allow a part of a portfolio or a report to be requested again.
  • Made the upper bound on the "onBehalfOf" field be 4, to support reporting on behalf of all parties in a novation event.
  • Added an optional "parentCorrelationId" to allow the parent process of a nested process to be recorded.
  • Enhanced the requestEventStatus message to support additional event identifiers, and to allow the business process to be specified.
  • Added support for modeling people (such as employees) and business units within parties, and added detail to the partyTradeInformation block to allow their role within a transaction to be recorded. (This is still in progress and may be adjusted in a future draft.)
  • Added several fields to the partyTradeInformation to support SDR reporting (these are mostly needed for recordkeeping view, but are available in other views as well. Fields include "collateralized" indicator, a "boardOfDirectorsApproval", field, and a verificationPurpose field. Also renamed confirmationType to confirmationPurpose. (This is still in progress and may be adjusted in a future draft.)
  • Adjusted the "attachment" element in "documentation" to support multiple attachments per trade.
• Record-Keeping:
  • Restored recordkeeping view, which had been removed from the Trial Recommendation of 5.2 for scheduling reasons
  • In partyTradeInformation, made surveillance fields optional
  • Made most product fields optional, as follows: Minimum required fields are now consistent with Transparency view. All other fields are optional.
  • Added support for attached documents that can hold, for example, confirmation documents.
  • Added several fields to nonPublicExecutionReport to cover feedback from DTCC, including: as-of date field and reportingPurpose field, as well as an optional portfolioReference.
  • Removed trader and unit fields from Recordkeeping - these will be replaced by the new people and business unit representation.
  • Added the valuationReport message to Recordkeeping view.

None.

• Reporting and Business Process:
  • Added two new views, "Transparency" and "Recordkeeping", to support public and nonpublic reporting into swaps data repositories (SDRs).
  • Trade and Termination Events
    • Added the optional "originatingEvent" element to generic messages when the event is a new Trade. This element allows the sender to provide additional explanation as to why the new trade was created. Also added a corresponding coding scheme.
    • Added the optional "terminatingEvent" element to generic messages when the event is a Termination. This element allows the sender to provide additional explanation as to why the new trade was terminated. Also added a corresponding coding scheme.
  • Consent Negotiation
    • Added the optional "requestedAction" element to indicate why consent is being sought, and a corresponding coding scheme.
    • Added documentation to describe how the consent negotiation messages can be used to request consent for clearing a trade.
  • Maturity Notification
    • Added a new message that can report on trades that have matured. This can be used for options that have expired or any trade that has passed its final event and can be removed from the active portfolio.
  • Message Framework:
    • Correlation IDs and sequence numbers have been made optional for initial requests and notifications.
    • Increased the maximum multiplicity of correlation IDs to 2 to allow services to return their own correlation ID to correspond to the submitter's correlation ID.
    • Allowed exception messages to include the original message as unvalidated XML.
    • Allowed acknowledgement messages to include the original message as unvalidated XML.
    • Added enhancements to better report trade amalgamation (netting, compression).
    • Added enhancements to handle portfolio requests (portfolio-type business processes).

None.