FpML 5.7 Recommendation #5, 21 May 2025 Errata (Master View)

1 About this document

2 How this document is organized

3 Issues

3.1 Implausible combinations of events within messages have been removed in 5.8 WD1

• ID: 1
• Date Added: 2016-11-18
• Severity: Major
• Version: FpML-5-8-9-REC-2 (publication date - 2016-06-26) -> All Views (except Legal & transparency); FpML-5-7-9-REC-4 (publication date - 2015-06-15) -> All Views (except Legal and Pretrade Views); FpML-5-6-8-REC-3 (publication date - 2015-06-15) -> All Views (except Pretrade View); FpML-5-5-10-REC-3 (publication date - 2015-06-15) -> All Views (except Pretrade View); FpML-5-4-6-REC-2 (publication date - 2013-08-13) -> All Views (except Pretrade View); FpML-5-3-9-REC-2 (publication date - 2012-10-19) -> All Views (except Pretrade View); FpML-5-2-6-REC-2 (publication date - 2012-02-17) -> All Views (except Pretrade View); FpML-5-1-9-REC-3 (publication date - 2012-10-19) -> All Views (except Pretrade View)
• Location: "http://www.fpml.org/FpML-5/confirmation||recordkeeping||pretrade||transparency" - > fpml-business-events.xsd -> Events.model within messages have been removed
• Description: Implausible combinations of events within messages have been removed in 5.8 WD1; certain events that were previously available in messages have now been removed from Trading Events as agreed in the BPWG in August 1 2014. Eeffectively breaking foward compatibility. The BPWG does not foresee issues with removing these options as it is unlikely the removed combinations were used by implementations. The BPWG is seeking feedback from the industry in the unlikely event the changes affect existing implementations. Please submit feedback to bpwgchair@fpml.org. For more detailed information see FpML 5.8 Schema Tightening.pdf
• Disposition: This Non-Backward compatible change in the confirmation||recordkeeping||transparency||pretrade views has been implemented FpML-5-8-1-wd-1 (publication date - 2014-10-24) Build 3.

• ID: 2
• Date Added: 2016-11-18
• Severity: Major
• Version: FpML-5-8-9-REC-2 (publication date - 2016-06-26) -> All Views (except Legal & transparency); FpML-5-7-9-REC-4 (publication date - 2015-06-15) -> All Views (except Legal and Pretrade Views); FpML-5-6-8-REC-3 (publication date - 2015-06-15) -> All Views (except Pretrade View); FpML-5-5-10-REC-3 (publication date - 2015-06-15) -> All Views (except Pretrade View); FpML-5-4-6-REC-2 (publication date - 2013-08-13) -> All Views (except Pretrade View); FpML-5-3-9-REC-2 (publication date - 2012-10-19) -> All Views (except Pretrade View); FpML-5-2-6-REC-2 (publication date - 2012-02-17) -> All Views (except Pretrade View); FpML-5-1-9-REC-3 (publication date - 2012-10-19) -> All Views (except Pretrade View)
• Location: "http://www.fpml.org/FpML-5/confirmation||recordkeeping||pretrade||transparency|reporting" - > fpml-cd.xsd -> Within FeeLeg complexType, some elements as initialPayment and singlePayment become mandatory.
• Description: FeeLeg was refactored to require at least one type of fee (e.g., intialPayment or singlePayment) within FeeLeg.
• Disposition: This Non-Backward compatible change in the confirmation||recordkeeping||transparency|pretrade views has been implemented FpML-5-8-9-rec-2 (publication date - 2016-07-26) Build 9.

• ID: 3
• Date Added: 2016-11-18
• Severity: Major
• Version: FpML-5-8-9-REC-2 (publication date - 2016-06-26) -> All Views (except Legal); FpML-5-7-9-REC-4 (publication date - 2015-06-15) -> All Views (except Legal and Pretrade Views); FpML-5-6-8-REC-3 (publication date - 2015-06-15) -> All Views (except Pretrade View); FpML-5-5-10-REC-3 (publication date - 2015-06-15) -> All Views (except Pretrade View); FpML-5-4-6-REC-2 (publication date - 2013-08-13) -> All Views (except Pretrade View); FpML-5-3-9-REC-2 (publication date - 2012-10-19) -> All Views (except Pretrade View); FpML-5-2-6-REC-2 (publication date - 2012-02-17) -> All Views (except Pretrade View); FpML-5-1-9-REC-3 (publication date - 2012-10-19) -> All Views (except Pretrade View)
• Location: "http://www.fpml.org/FpML-5/confirmation||recordkeeping||pretrade||transparency|reporting" - > fpml-cd.xsd | fpml-eq-shared.xsd -> Within LegalEntity complexType, entityName or entityId were made mandatory.
• Description: CDS - entityName or entityId were made mandatory. restructuring entity Id / Name to allow either or both will slightly change the appearance of the confirmation view schema but shouldn’t affect instances.
• Disposition: This Non-Backward compatible change in the confirmation||recordkeeping||transparency|pretrade views has been implemented FpML-5-8-9-rec-2 (publication date - 2016-07-26) Build 9.

• ID: 4
• Date Added: 2016-11-18
• Severity: Major
• Version: FpML-5-7-9-REC-4 (publication date - 2015-06-15) -> All Views (except Legal and Pretrade Views); FpML-5-6-8-REC-3 (publication date - 2015-06-15) -> All Views (except Pretrade View); FpML-5-5-10-REC-3 (publication date - 2015-06-15) -> All Views (except Pretrade View); FpML-5-4-6-REC-2 (publication date - 2013-08-13) -> All Views (except Pretrade View); FpML-5-3-9-REC-2 (publication date - 2012-10-19) -> All Views (except Pretrade View); FpML-5-2-6-REC-2 (publication date - 2012-02-17) -> All Views (except Pretrade View); FpML-5-1-9-REC-3 (publication date - 2012-10-19) -> All Views (except Pretrade View)
• Location: "http://www.fpml.org/FpML-5/confirmation||recordkeeping||transparency||reporting " - > fpml-eq-shared.xsd -> CalculationFromObservation.model -> choice of [ sequence (of InitialLevel and initialLevelSource) and initialLevelSource.]
• Description: Within CalculationFromObservation type: Instead of sequence (of optional InitialLevel and optional initialLevelSource) which could be empty, create a choice of [mandatory InitialLevel and optional initialLevelSource] and mandatory initialLevelSource. The first branch would be used only for AgreedInitialPrice. If initiallevel is present this would infer AgreedInitialPrice, initialLevelSource= AgreedInitialPrice can be optionally provided for clarity. The second branch would be used for elections other than AgreedInitialPriceprice.
• Disposition: This Non-Backward compatible change in the confirmation||recordkeeping||transparency||reporting views has been implemented in FpML-5-9-1-wd-1 (publication date - 2015-07-15) Build 1.

• ID: 5
• Date Added: 2016-11-18
• Severity: Major
• Version: FpML-5-7-9-REC-4 (publication date - 2015-06-15) -> All Views (except Legal and Pretrade Views); FpML-5-6-8-REC-3 (publication date - 2015-06-15) -> All Views (except Pretrade View); FpML-5-5-10-REC-3 (publication date - 2015-06-15) -> All Views (except Pretrade View); FpML-5-4-6-REC-2 (publication date - 2013-08-13) -> All Views (except Pretrade View); FpML-5-3-9-REC-2 (publication date - 2012-10-19) -> All Views (except Pretrade View); FpML-5-2-6-REC-2 (publication date - 2012-02-17) -> All Views (except Pretrade View); FpML-5-1-9-REC-3 (publication date - 2012-10-19) -> All Views (except Pretrade View)
• Location:"http://www.fpml.org/FpML-5/confirmation||recordkeeping||transparency||reporting" - > fpml-eq-shared.xsd -> extraordinaryEvents type
• Description: Within extraordinaryEvents type, deprecated tenderOffer Boolean element in favor of using just tenderOfferEvents. Documented the tenderOfferEvents usage, as “If tenderOfferEvents is NOT provided, No Tender Offer is applicable. If provided, Tender Offer is applicable, all events within EquityCorporateEvents type are turned on and the consequences must be provided.
• Disposition: This Non-Backward compatible change in the confirmation||recordkeeping||transparency||reporting views has been implemented in FpML-5-5-10-REC-3 (publication date - 2015-07-15) Build 3.

• ID: 6
• Date Added: 2016-11-18
• Severity: Major
• Version: FpML-5-7-9-REC-4 (publication date - 2015-06-15) -> All Views (except Legal and Pretrade Views); FpML-5-6-8-REC-3 (publication date - 2015-06-15) -> All Views (except Pretrade View); FpML-5-5-10-REC-3 (publication date - 2015-06-15) -> All Views (except Pretrade View); FpML-5-4-6-REC-2 (publication date - 2013-08-13) -> All Views (except Pretrade View); FpML-5-3-9-REC-2 (publication date - 2012-10-19) -> All Views (except Pretrade View); FpML-5-2-6-REC-2 (publication date - 2012-02-17) -> All Views (except Pretrade View); FpML-5-1-9-REC-3 (publication date - 2012-10-19) -> All Views (except Pretrade View)
• Location: "http://www.fpml.org/FpML-5/confirmation||recordkeeping||transparency||reporting" - > fpml-eq-shared.xsd -> EquityValuation. Grouped into an optional choice elements: futuresPriceValution and optionsPriceValuation
• Description: Within EquityValuation, grouped into an optional choice elements: futuresPriceValution and optionsPriceValuation. Rationale: they should be mutually exclusive as they both answer the same question.
• Disposition: This Non-Backward compatible change in the confirmation||recordkeeping||transparency||reporting views has been implemented in FpML-5-8-9-REC-2 (publication date - 2016-06-26) Build 2.

• ID: 7
• Date Added: 2016-11-18
• Severity: Major
• Version: FpML-5-7-9-REC-4 (publication date - 2015-06-15) -> All Views (except Legal and Pretrade Views); FpML-5-6-8-REC-3 (publication date - 2015-06-15) -> All Views (except Pretrade View); FpML-5-5-10-REC-3 (publication date - 2015-06-15) -> All Views (except Pretrade View); FpML-5-4-6-REC-2 (publication date - 2013-08-13) -> All Views (except Pretrade View); FpML-5-3-9-REC-2 (publication date - 2012-10-19) -> All Views (except Pretrade View); FpML-5-2-6-REC-2 (publication date - 2012-02-17) -> All Views (except Pretrade View); FpML-5-1-9-REC-3 (publication date - 2012-10-19) -> All Views (except Pretrade View)
• Location: "http://www.fpml.org/FpML-5/confirmation||recordkeeping||transparency||reporting" - > fpml-correlation-swap.xsd & fpml-variance-swap.xsd -> NettedSwapBase -> renamed the classifiedPayment (of type classifiedPayment) to classifiablePayment (of type ClassifiablePayment).
• Description: Within NettedSwapBase -> renamed the classifiedPayment (of type classifiedPayment) to classifiablePayment (of type ClassifiablePayment). Rationale: Correction of the name to precise business definition. One can choose not to classify it.
• Disposition: This Non-Backward compatible change in the confirmation||recordkeeping||transparency||reporting views has been implemented in FpML-5-9-1-wd-1 (publication date - 2015-07-15) Build 1.

• ID: 8
• Date Added: 2016-11-18
• Severity: Major
• Version: FpML-5-7-9-REC-4 (publication date - 2015-06-15) -> All Views (except Legal and Pretrade Views); FpML-5-6-8-REC-3 (publication date - 2015-06-15) -> All Views (except Pretrade View); FpML-5-5-10-REC-3 (publication date - 2015-06-15) -> All Views (except Pretrade View); FpML-5-4-6-REC-2 (publication date - 2013-08-13) -> All Views (except Pretrade View); FpML-5-3-9-REC-2 (publication date - 2012-10-19) -> All Views (except Pretrade View); FpML-5-2-6-REC-2 (publication date - 2012-02-17) -> All Views (except Pretrade View); FpML-5-1-9-REC-3 (publication date - 2012-10-19) -> All Views (except Pretrade View)
• Location: "http://www.fpml.org/FpML-5/confirmation||recordkeeping||transparency||reporting" - > fpml-generic.xsd -> nonSchemaProduct
• Description: Removed the deprecated nonSchemaProduct from the schema to avoid any confusion with the existing genericProduct. The removal was agreed by the FpML Standards Committee on January 25, 2016.
• Disposition: This Non-Backward compatible change in the confirmation||recordkeeping||transparency||reporting views has been implemented FpML-5-9-3-wd-3 (publication date - 2016-01-29) Build 3.

• ID: 9
• Date Added: 2019-12-17
• Severity: Major
• Version: FpML-5-10-5-REC-1 (publication date - 2018-02-12) -> All Views (except Legal); FpML-5-9-7-REC-2 (publication date - 2017-03-20) -> All Views (except Legal); FpML-5-8-9-REC-2 (publication date - 2016-07-26) -> All Views (except Pretrade and Legal); FpML-5-7-9-REC-4 (publication date - 2015-07-15) -> All Views (except Pretrade and Legal); FpML-5-6-8-REC-3 (publication date - 2015-07-15) -> All Views (except Pretrade); FpML-5-5-10-REC-3 (publication date - 2015-07-15) -> All Views (except Pretrade); FpML-5-4-6-REC-2 (publication date - 2013-08-13) -> All Views; FpML-5-3-9-REC-2 (publication date - 2012-10-19) -> All Views; FpML-5-2-6-REC-2 (publication date - 2012-02-17) -> All Views; FpML-5-1-9-REC-3 (publication date - 2012-02-17) -> All Views; FpML-5-0-9-REC-2 (publication date - 2010-07-07) -> All Views
• Location: "http://www.fpml.org/FpML-5/confirmation||recordkeeping||pretrade||transparency||reporting" - > fpml-ird.xsd -> Fra
• Description: Made fra/indexTenor maxOccurs equals to 2. This is to solve issue https://www.fpml.org/ticket/1030/. There is no business reason to produce more than two instances of fra/indexTenor. This change was approved by the Standards Committee on 2013 but it was not implemented.
• Disposition: This Non-Backward compatible change has been implemented in FpML-5-11-7-rec-1 (publication date - 2019-12-17) Build 7 (all views except legal).

• ID: 10
• Date Added: 2019-12-17
• Severity: Major
• Version: FpML-5-10-5-REC-1 (publication date - 2018-02-12) -> All Views (except Legal); FpML-5-9-7-REC-2 (publication date - 2017-03-20) -> All Views; FpML-5-8-9-REC-2 (publication date - 2016-07-26) -> All Views; FpML-5-7-9-REC-4 (publication date - 2015-07-15) -> All Views; FpML-5-6-8-REC-3 (publication date - 2015-07-15) -> All Views; FpML-5-5-10-REC-3 (publication date - 2015-07-15) -> All Views; FpML-5-4-6-REC-2 (publication date - 2013-08-13) -> All Views; FpML-5-3-9-REC-2 (publication date - 2012-10-19) -> All Views; FpML-5-2-6-REC-2 (publication date - 2012-02-17) -> All Views; FpML-5-1-9-REC-3 (publication date - 2012-02-17) -> All Views; FpML-5-0-9-REC-2 (publication date - 2010-07-07) -> All Views
• Location: "http://www.fpml.org/FpML-5/confirmation||recordkeeping||pretrade||transparency||reporting" - > fpml-shared.xsd -> Currency; EntityId; EntityName; ExchangeId
• Description: Removed the version string from the external coding scheme URIs, which are implemented as default URIs in the FpML schema (see initial Issue ticket 1220.). The changes are backward-incompatible for those users who are using default URIs and have hard-coded their application to expect these values. The assumption is that not many implementers have constrained themselves in this way. Below is the list of the coding scheme URIs affecred by the change:
  • currencyScheme - http://www.fpml.org/coding-scheme/external/iso4217
  • entityIdScheme - http://www.fpml.org/coding-scheme/external/entity-id-RED
  • entityNameScheme - http://www.fpml.org/coding-scheme/external/entity-name-RED
  • exchangeIdScheme - "http://www.fpml.org/coding-scheme/external/exchange-id-MIC
• Disposition: This Non-Backward compatible change has been implemented in FpML-5-11-7-rec-1 (publication date - 2019-12-17) Build 7 (all views).

• ID: 11
• Date Added: 2020-07-28
• Severity: Major
• Version: (Confirmation) FpML-5-10-5-REC-1; FpML-5-9-7-REC-2; FpML-5-8-9-REC-2; FpML-5-7-9-REC-4; FpML-5-6-8-REC-3
• Location: "http://www.fpml.org/FpML-5/confirmation" - > fpml-shared.xsd -> RateObservation -> observationWeight
• Description: Made observationWeight optional within RateObservation. Having observationWeight required was making implementations more difficult since in most cases the value is always set to one and it doesn't have to be populated.
• Disposition: This backward compatible change has been implemented in FpML-5-11-9-rec-1 (Confirmation view) and FpML-5-5-11-rec-3 (Confirmation view). However it has not been implemented yet in the versions in between 5.5 and 5.11, creating backward incompatibility for those who want to update their version from FpML-5-5-11-REC-3 to any versions between 5.5 and 5.10. If a firm has the need for this change to be included in one of the intermediate versions, please send an email to info@fpml.org

• ID: 12
• Date Added: 2020-07-28
• Severity: Major
• Version: (Recordkeeping) FpML-5-10-5-REC-1; FpML-5-9-7-REC-2; FpML-5-8-9-REC-2; FpML-5-7-9-REC-4; FpML-5-6-8-REC-3
• Location: "http://www.fpml.org/FpML-5/recordkeeping" -> fpml-business-events.xsd
• Description: In order to support EMIR REFIT Mandatory Delegated Reporting requirements, the category element was added to the WithdrawalPartyTradeInformation type. The information needed to be made available in the withdrawal message for compliance with regulators, because some Trade Repositories (TRs) use that to determine how to report the withdrawal to the regulators.
• Disposition: This backward compatible change has been implemented in FpML-5-11-9-rec-1 (Recordkeeping view) and FpML-5-5-11-rec-3 (Recordkeeping view). However it has not been implemented yet in the versions in between 5.5 and 5.11. If a firm has the need for this change to be included in one of the intermediate versions, please send an email to info@fpml.org

• ID: 13
• Date Added: 2025-05-21
• Severity: Major
• Version: (Confirmation) FpML-5-7-10-REC-5
• Location: "http://www.fpml.org/FpML-5/confirmation" -> fpml-business-events.xsd
• Description: Added quote to clearingStatus/clearingStatusItem, to be able to specify e.g. trade-level NPV, variation margin, PAI.
• Disposition: This addition has been made in the republished version 5.7 REC 5 (to accommodate clearing firms still using that version) and in version 5.13 REC onward. Specifically, the addition has not been made to the versions in between (e.g. 5.8, … 5.12). If you need that field in any of these versions, please let us know. Email ISDA at info@fpml.org.

• ID: 14
• Date Added: 2025-05-21
• Severity: Minor
• Version: (Confirmation) FpML-5-7-10-REC-5
• Location: confirmation\business-processes\product-definition\*.xml (4 examples)
• Description: 4 examples of defineTradeableProduct, but defineTradeableProduct is not defined in the schema.
• Disposition: Examples have been removed from version 5-9 and later.

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