FpML Issues Tracker

1321: relativeEffectiveDate businessCenter

August 8, 2023




Examples/Test Cases

5.11 Recommendation (Build 6)





Good day.

I have the following question regarding example #30 (2.38).

The code snippet is as follows.

<relativeEffectiveDate id="effectiveDate_0_0"> <periodMultiplier>2</periodMultiplier> <period>D</period> <dayType>Business</dayType> <businessDayConvention>NONE</businessDayConvention> <businessCenters> <businessCenter>GBLO</businessCenter> </businessCenters> <dateRelativeTo href="tradeDate" /> <relativeDateAdjustments> <businessDayConvention>MODFOLLOWING</businessDayConvention> <businessCenters> <businessCenter>GBLO</businessCenter> <businessCenter>USNY</businessCenter> </businessCenters> </relativeDateAdjustments> </relativeEffectiveDate>


The questions are next:

  1. Why the element that has Xpath /dataDocument/trade/swap/swapStream[1]/calculationPeriodDates/relativeEffectiveDate/businessCenters/businessCenter

contains only GBLO business center, and not both the GBLO and USNY business centers?

2) Is this a mistake or does this presentation format make sense?

3) Can there be no business centers in that place at all?

Thank you in advance, as always, I hope for cooperation.


Best regards, Maksym


  • MAZA

    09/06/23 4:46 am

    UPD: additional question:
    Assume that the relativeDateAdjustments section is missing (see the snippet below) and only the first part is present. Is this possible and have I modeled the code correctly? Will such a representation contain logic equivalent to that in which relativeDateAdjustments is present?

    <relativeEffectiveDate id=”effectiveDate_0_0″>
    <dateRelativeTo href=”tradeDate”/>


    Thank you.


  • JasonPolis

    10/12/23 8:35 am

    XAPWG 2023-09-28:

    Could have a relative date in calendar days, and then possibly relative date in business days.
    Don’t know if that would be used in practice.

    Given date X from date y, want adjustment.

    So Relative date to work out the initial relative date, and then to apply further adjustments.

    Eg. Adjust by 10 calendar days, but resulting dates needs to be also good business day in some business center.

    Eg. Adjust by 10 NY business  days, but resulting dates needs to be also good business day in London.

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