FpML Issues Tracker

Summary

The rules fx-26 has an unhandled condition.

There is a test on fxSingleLegvalueDate, but this field may not exist. The outcome is undefined if the field does not exist. According to the FpML Rules Specification the outcome must always evaluate to 1 boolean result for each test.

The rule today: " fx-26 (Mandatory) Context: FxSwap (complex type) [two fxSingleLeg elements exist] The fxSingleLegvalueDate for each one of the legs must be different. Test cases: [Invalid] "

The complex type FXLeg has valueDate within an xsd:choice structure:

" A type that represents a single exchange of one currency for another. This is used for representing FX spot, forward, and swap transactions. This is the first of the two currency flows that define a single leg of a standard foreign exchange transaction. This is the second of the two currency flows that define a single leg of a standard foreign exchange transaction. The date on which both currencies traded will settle. The date on which the currency1 amount will be settled. To be used in a split value date scenario. The date on which the currency2 amount will be settled. To be used in a split value date scenario. The rate of exchange between the two currencies. Used to describe a particular type of FX forward transaction that is settled in a single currency. A reference to the party that is sending the current document as a confirmation of the trade. "

The rule should be change to it works in all circumstances.

Also, according to the FpML Specification for writing Rules, the rule should be written out using the approved mathemtical notation:

" fx-26 (Mandatory) Context: FxSwap (complex type)[count(fxSingleLeg) = 2] fxSingleLeg[1]/valueDate != fxSingleLeg[2]/valueDate "

In addition the rule needs a comment to make its intent clear.