FpML Issues Tracker

Summary

In the FpML 4.x series schema the Inflation Swap boolean element fallbackBondApplicable was optional. For example in fpml-ird-4-9.xsd it was defined as:

The applicability of a fallback bond as defined in the 2006 ISDA Inflation Derivatives Definitions, sections 1.3 and 1.8. Omission of this element imples a value of true. The annotation included the last sentence "Omission of this element implies a value of true."

As part of architecture changes introduced in the FpML 5.x schema this was one of the boolean elements that was made mandatory to reduce ambiguity, i.e. now the element must always be present with an explicit true/false value. The minOccurs attribute has been removed:

The applicability of a fallback bond as defined in the 2006 ISDA Inflation Derivatives Definitions, sections 1.3 and 1.8. Omission of this element imples a value of true. However, the annotation in the 5.x schemas still includes the sentence implying the element remains optional. The sentence "Omission of this element implies a value of true." should be removed from the 5.8 schema so the annotation is correct going forwards.