FpML Issues Tracker

Summary

The IRD precondition is: " Precondition: isParametric The ancestor element of type InterestRateStream contains no cashflows element, or cashflows/cashflowsMatchParameters contains true. "

A plain English reading of this would give me the following test in XPath: fn:contains($interestRateStream/cashflows/cashflowsMatchParameters, "true")

I suspect that this is incorrect and the form of words needs to be corrected. It needs to say "is equal to true", or something similar.

The reason for this is that "1" and "true" and "True" are all equivalent, but only one of them contains "true". The VWG standardized on XPath 2 operators, and the plain English should match so that both the plain and formal are consistent.

I expect the correct test is: $interestRateStream/cashflows/cashflowsMatchParameters eq true()

I suggest: " Precondition: isParametric The ancestor element of type InterestRateStream contains no cashflows element, or cashflows/cashflowsMatchParameters equals true. "