FpML Issues Tracker
closed
Minor
Always
Schema
Admin
mgratacos
Summary
The Novation Ageement messages in LCWD 4.1 don't have anywhere to specify whether Non-Reliance is applicable/not applicable.
Non-Reliance appears in the Section 6 Miscellaneous section of the ISDA Novation templates and defined in Section 2.1 (c) of the 2004 ISDA Novation Definitions and discussed in the User's Guide to the Defns in Point 8 F.
There's also nothing I can see in the Schema relating to the following Credit Derivative specific terms which appear in the ISDA sample novation confirmations:
1. Credit Event Notice Delivered Under Old Transaction and Deemed Delivered Under New Transaction
2. Notice of Publicly Available Information Delivered Under Old Transaction and Deemed Delivered Under New Transaction
3. Notice of Physical Settlement Delivered Under Old Transaction, a copy of which is attached
Regards Guy Gurden SwapsWire
Notes:
mgratacos
04/13/05 6:33 pm
Support for non-reliance and credit notices, including:
1. Credit Event Notice Delivered Under Old Transaction and Deemed Delivered
Under New Transaction
2. Notice of Publicly Available Information Delivered Under Old Transaction and
Deemed Delivered Under New Transaction
3. Notice of Physical Settlement Delivered Under Old Transaction, a copy of
which is attached
has been introduced in version 4.1