FpML Issues Tracker
closed
Minor
Always
Validation Rules
Admin
None
Summary
fx-2 requires changing to follow the specification guidelines to use exists() as a function.
The rule today is: " fx-2 (Mandatory) Context: ExchangeRate (complex type) [exists(forwardPoints)] spotRate must exist. "
The rule should be: " fx-2 (Mandatory) Context: ExchangeRate (complex type) [exists(forwardPoints)] exists(spotRate) "
Notes:
lyteck
09/16/08 3:57 pm
ValWG (2008-09-16): not adopted – see related issue 806 for explanation
matthew
09/16/08 8:30 pm
The conclusion (this week) of the VWG contradicts the VWG’s statement in Validation Architecture section 4.6.3: “any term that is defined in XPath then that meaning is used for the term in the RuleDef. Any other term must be defined as a function”.
Either the Validation Architecture must be changed to match the decision, or the decision must be changed to match the Validation Architecture.
In practical terms – either the term “exists” is defined as per the Validation Architecture which requires it to be written out as per the section 4.6.3, or we use the XPath definition of the term.
lyteck
10/07/08 1:25 pm
ValWG 2008-10-07: Agreed to broaden implementation of Xpath terms to rule definitions.
The english wording is important to business analysts/non-programmers and should be kept as rule comments.
ISDA to implement.
lyteck
10/08/08 8:53 pm
implemented for CD, Loan, Repo, FX
not affected: Shared, BP, PR
still to do: IRD, EQD
lyteck
10/09/08 4:21 pm
implemented for CD, Loan, Repo, FX, IRD, EQD
not affected: Shared, BP, PR
matthewdr
10/14/08 4:28 pm
Closed following testing.