FpML Issues Tracker
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Equity Derivatives
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apparry
Summary
The example invalid-eqd-5-01.xml breaks rule eqd-9. This is a mistake, as it should only break eqd-5.
eqd-9 is: " Context: equityBermudaExercise (complex type) eqd-9 (Mandatory) All dates in bermudaExerciseDates/date must be less than or equal to expirationDate/adjustableDate/unadjustedDate. "
Please fix the example to only break eqd-5.
Notes:
iyermakova
05/21/08 8:32 pm
This is not mistakes in this invalid-eqd-5-01.xml case. The way the dates are tied up around the rules eqd-4, eqd-5, eqd-8, eqd-9 to make the rule eqd-5 invalid, one of the additional rules has to be broken too.
– commencementDate >= tradeDate (eqd-4)
– expirationDate >= tradeDate (eqd-5)
– bermudaExerciseDates > commencementDate (eqd-8)
– bermudaExerciseDates <= expirationDate (eqd-9) ED >TD (eqd-5)
2002-06-21Z >= 2002-01-17
BED <= ED (eqd-9) 2002-04-21Z <= 2002-06-21Z 2002-05-21Z <= 2002-06-21Z 2002-06-21Z <= 2002-06-21Z CD < BED (eqd-8) 2002-01-17Z < 2002-04-21Z 2002-01-17Z < 2002-05-21Z 2002-01-17Z < 2002-06-21Z TD=< CD (eqd-4) 2002-01-17 <= 2002-01-17Z
matthewdr
05/22/08 9:09 am
Irina – thank you for pointing this out.
There is a redundancy in the rules. The four rules are circular. To break this circularity I proposing eliminating eqd-8. The effect of eqd-8 is available by entailment on eqd-4, eqd-5, and eqd-9.
iyermakova
05/23/08 2:28 pm
The removal of eqd-8 will not solve the issue above because of the rule eqd-10 (The dates in bermudaExerciseDates/date must be unique)
The rule eqd-5 (ED >TD) can be eliminated to break the circle.
Right now all 4 rules (eqd-4, eqd-8, eqd-9 and eqd-5) look like this.
TD =< CD < BED <= ED > TD
mgratacos
06/06/08 1:46 pm
Agreement from the EQDWG that eqd-5 is redundant and it should be removed.
matthewdr
06/06/08 1:46 pm
Discussed at EQDWG. WG agreed with Irina. EQD-5 will be removed.
iyermakova
06/25/08 3:26 pm
As per EQDWG agreement rule EQD-5 and examples (valid-eqd-5-01, valid-eqd-5-02, invalid-eqd-5-01) were removed. The change was committed to 4-5 (trunk), 4-4 (branches) and 5-0 (branches)