FpML Issues Tracker
closed
Major
Always
Business Process
Admin
mgratacos
Summary
Top-level elements in types OptionExercise, OptionExpiry & DeClear have no annotation in the schema (see: fpml-business-events-5-x.xsd). This should be corrected in the 5-2 & 5-3 Recommendations, and retrospectively in 5-1.
Also: elements exerciseIn[NotionalAmount|NumberOfOptions|Number OfUnits] are documented in terms of "the fixed amount by which the option should be exercised". This implies an instruction, or statement of intent, to exercise the option at some point in future. However in some use cases, e.g. executionAdvice, the message is reporting the historical fact of exercise. Suggest more neutral wording would be appropriate e.g "amount by which the option is exercised".
An observation: the naming of the exerciseIn- elements is unfortunate - the "In" seems both unintuitive and redundant. Was this done by back-formation from "changeIn-" NotionalAmount etc.? Acknowledged, this is too late to change now.
Notes:
mgratacos
05/30/13 3:47 pm
We have added documentation for the OptionExercise complex type:
mgratacos
03/25/14 11:59 am
Added documentation for the DeClear complex type:
A structure describing a declear event. The deClear event allows a firm to request that a trade be removed from clearing, or a clearing service to request consent for this, or to report that is has been done
mgratacos
03/25/14 12:02 pm
The documentation of OptionExpiry is: A structure describing an option expiring (i.e. passing its last exercise time and becoming worthless.)