FpML Coordination Committee Issues List 2005-01-03
FpML 4.0 Recommendation
# / FpML Issues # / Pri / Issue Date / In / Fix In / Description / Status / CC Resolution/Comments / Owner/ Action /FpML 4.1 Second Working Draft
# / FpML Issues # / Pri / Issue Date / In / Fix / Description / Status / CC Resolution/Comments / Owner /FpML 4.1 LCWD
# / FpML Issues # / Pri / Issue Date / In / Fix / Description / Status / CC Resolution/Comments / Owner /FpML 4.1 TR
# / FpML Issues # / Pri / Issue Date / In / Fix / Description / Status / CC Resolution/Comments / Owner /115 / 2004-12-20 / Need to revise the descriptions of the party roles associated with the Novation as they are not accurate when you consider a 4-way novation and don’t make it clear how to use the elements in the case of a 4-way novation. - Guy / Open / MWG /
N.B: Issue numbers in red are the FpML issues mail archive issue number, where this exists.
FpML 4.2
# / FpML Issues # / Pri / Issue Date / In / Fix In / Description / Status / CC Resolution/Comments / Owner/ Action /30, 76 / 2b / 2003-8-14 / 4.0 / 4.2 / Publish scheme data as xml files; Scheme URIs should resolve to data files / In progress / Tony Coates has proposed a new format that unifies code lists for FpML, MDDL, and UBL. AWG recommended using this format. Examples need to be provided. / Marc /
12 / 2003- 5-28 / 4.0 / 4.2 / Support for accounts in “party” to support principal/agent relationships. / In progress / MWG included it as first thing to work for version 4.2 / MWG /
103 / 2004-07-31 / Define the product set to be included in FpML 4.2 / Open / Some products to consider include: Equity Default Swap, Volatility Swap, First to Default Baskets, Asset Swap, Multiply Traded instruments / CC /
104 / 2004-07-31 / Schema grain size/structure; views support / Open / Address schema grain size and include paths. Would it be better to provide for message specific schemas which then included required components ? An example of this would be 'TradeTerminationRequest.xsd'. [Proposal submitted by BAL to AWG for providing “views” might address this issue]. / AWG /
36 / 45
38 / 2003-8-19 / 4.0 / GEM TradeHeader proposals / Trade Status modeling / Open / Trade status scheme.; Christian N.’s proposals on Trade Status. Open questions: should trade status be allowed in trade header? Should the trade status be tied to a workflow? How should workflows be identified? / MWG – review charter. /
95 / 2004-06-21 / 4.0 / Trade version should be indicated in trade header / Open / Based on input from the broker confirmations work; relates also to issue #36, which requested a trade version to be added to the trade id. / MWG? /
84 / 2004-03-25 / 4.0 lcwd / not in 4.1 / Allow swap streams of different types in the same swap. Revise equity swap to something more generic (to better indicate support for total return swaps, asset swaps, etc.) / Open / Requires new generic swap structure and examples. Need to decide scope (which streams are included). (combine with 83). / AP/SL /
13 / 2003-6-2 / 4.0 / 4.1 wd2 / Extend FpML to support event notification / Defer / MWG to consider for longer term. / MWG to review /
73 / 2b / Energy WG – NG swaps / ?? / ?? / EW/Marc /
FpML 5.0
# / FpML Issues # / Pri / Issue Date / In / Fix / Description / Status / CC Resolution/Comments / Owner /84 / 59 / 2004-03-24 / 4.0 lcwd / 4.1 lcwd / Allow adjusted dates to be supplied for adjustable dates / Complete / Investigation was done to determine which places were appropriate. Since some adjusted dates were already defined in the schema, making the change across the entire schema would be extremely difficult. It will be a 5.0 change. / Views: (5.0) AJ/AWG
Adjusted dates alternative solution: BL/MG /
92 / 2004-06-23 / 4.0 / 5.0 / Schema namespace URI contains a version number. This makes it hard to migrate to new versions of the spec, because XPath expressions need to bind to a URI. / In progress / Namespace should be major version, attribute should indicate minor version. Documentation should be changed to clarify this. Agreed 09/07 that this change is not critical for 4.1 and hence moved to future version – 5.0 / AWG/ AJ /
84 / 59 / 2004-03-24 / 4.0 lcwd / 5.0 / Need for “Views”. Rearranging the FpML schema -> using a chameleon style design, we will have a shared layer without namespace and different “views” subschemas with its own namespace. Use the substitution group concept to select which "view" of product would be needed for a particular message (e.g. have different substitution groups for pre-trade, confirmation, and post-trade products). / Open / BAL proposal on views to be considered by AWG prior to CC review. AWG thinks that it is an interesting idea but that some prototyping should be done. (the initial trigger of this proposal was the need for using adjustable dates into different contexts). / BAL/AJ /
Open but no specific version
# / FpML Issues # / Pri / Issue Date / In / Fix / Description / Status / CC Resolution/Comments / Owner /43 / 2003-9-3 / 4 / Automatically sync intro diagrams with schema / Hold / They should be synchronized automatically if possible, but how to do this is unclear. / Marc /
28 / 2003-8-11 / 4.0 / 4.1 / Put issues onto source cast / Hold / deferred , little immediate value vs. cost / Marc /
66 / 2c / 2003-11-03 / Publish a non-normative version of the schemes as an enumeration to allow validation by schema / Not started / Is it something we want to do for version 4.2? / AJ /
Closed Items
108 / 66, 67 / 2004-10-26 / Novation Agreeement Messages – support for Non-reliance and credit derivatives notices – Guy’s posting. / Complete / Support for non-reliance and credit derivatives notices has been added in the Trial Recommendation / MWG /47 / Long term / 2003-09-10 / 4.0 / Improve accessibility of the spec: Need “Primer” or “Usage Guide” / Complete / Improve the accessibility of the spec. /
114 / 2004-11-15 / 4.1 tr / Issues with schemes and enumerations reported by Claude Martini (Zeliade) / Complete / Issues have been corrected in the Trial Recommendation / Marc /
113 / 2004-10-15 / 4.1 tr / Improvements for FpML Schema release process (suggestions from John Weir): - For each file, detailed the changes in a release note - Apply an XSLT Sort to the xsd files so that each has a similar structure / Complete / Marc /
80 / 54 / 2004-02-15 / Wd#2 / 4.1 lcwd / Additional data in MessageRejected needs type / Complete / MWG approved proposal to create new AdditionalData type with optional scheme. / MWG /
81 / 53 / 2004-02-27 / Wd#2 / 4.1 lcwd / MessageRejected needs an overall reason. / Complete / The MWG discussed the issue. It would be useful to have an example showing how this should be modeled. Proposal approved by MWG solves the issue. / MWG /
102 / 2004-07-07 / 4.1 / 4.1 lcwd / Need to resolve contents of the “Collateral” type. / Complete / Independent Amount structure has been introduced inside the Collateral type. / AP/BenL /
110 / 2004-09-03 / 4.0 / 4.1 / Errata should be included in CVS / Complete / An Errata of LCWD version has been included in CVS as an xml file with scripts to generate xhtml output. / Marc /
111 / 2004-09-03 / 4.0 / 4.1 / Minor notes on FpML Schema – Brian:
In fpml-shared, the use of the “BusinessCentersOrReference” group is not completely consistent.
There is the model group could be used and isn’t (in RelativeDateSequence).
In EQS, the type of “AdditionalPaymentDate” appears to be identical to “AdjustableOrRelativeDate” / Complete / Errata has been updated. / Marc /
109 / 2004-08-20 / 4.1 2nd WD / 4.1 LCWD / Circular Reference / Complete
(description and errata updated required) / There was a circular reference between fpml-doc-4-1.xsd and fpml-posttrade-4-1.xsd so TurboXML was not able to parse the schemas. The Errata of the 2nd WD has been updated. It will be fixed in the LCWD release. / Marc /
107 / 2004-08-13 / 4.1 / 4.1 lcwd / Equity type – instrumentId element has no type. / Complete / Schema has been changed. Errata has been updated. / Marc /
106 / 2004-08-11 / 4.0 / 4.1 / Elements with local types / Complete / Elements with Local Types - it was recognized that these were not conforming to our own standards; were producing difficulties for people in the industry who wished to extend types, and should all be changed to global types. Proposed changes have been sent to Coord Committee. All changes are backward compatible. / Marc /
104 / 2004-07-29 / Reuse: (How) can we do it better?
Should there be additional tools or assistance for working groups?
Should there be guidelines on how/when to reuse? Or is it too hard? / Discussion completed / The general principle in FpML is that reuse of existing types is a good practice. For B2B purposes and to increase the use of FpML, the standard should follow the ISDA documentation, which is specific to each asset class, even though it results in less reuse of existing components. / CC /
100 / 60 / 2004-05-05 / 4.0 / Total return swaps should support stubs like IRS / Complete / Done. A response was posted on the Issues list. / AP / BAL /