FpML Issues Tracker

1265: New BackOffice business unit role

October 23, 2019

Normal

closed

Tweak

Have not tried

Coding Scheme

mgratacos

mgratacos

Summary

I request the addition of a "BackOffice" value to the business unit role scheme https://www.fpml.org/coding-scheme/unit-role-2-1.xml

The scheme contains values such as the "TradingDesk" value and we think "BackOffice" makes business sense.

Proposed description: the unit in charge of the trade operations. It is a support function of the front office unit to make sure trades are processed correctly.

Notes:

  • mgratacos

    03/25/20 5:35 am

    RPTWG 2019-11-19

    Marc Gratacos (Tradeheader) submitted a request via the mailing list:

    One of TradeHeader’s clients has the requirement to use BackOffice as business unit role. TradeHeader would like to see whether other firms have the same requirement and if that’s the case, propose the addition of a new BackOffice value to the business unit role scheme. Marc raised an issue related to this https://www.fpml.org/ticket/1265/”

    –          https://www.fpml.org/coding-scheme/unit-role

    –          Proposed addition: “BackOffice”

    –          Proposed description: “The unit in charge of the trade operations. It is a support function of the front office unit to make sure trades are processed correctly”

    Discussions:

    –          Brian supported the addition of the field but was keen on having support from other firms.

    –          Marc noted this is mainly used for internal processing. There could be additional roles for consideration e.g. MiddleOffice (for further input)

    –          > Marc will clarify the description and develop an example (Action)

    –          > We agreed to leave the decision open and ask firms for feedback via the mailing list (Action)

  • mgratacos

    04/28/20 5:34 am

    Marc,

    We don’t do this but we do have lots of our own internal code lists that we use in place of standard FpML ones.

    I allocate them URNs rather than URLs (so people don’t type them into IE) like ‘urn:hsbc:<data-type>[:<system>][:<sub-type>]’ so we have things like:

    urn:hsbc:trade-id:SUMMIT

    urn:hsbc:party-id:GRID

    urn:hsbc:party-role

    I’d recommend they create their own code list with its own unique URN for use in internal messages.

    Andrew

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