Need help in understanding FPML propeties.

[jabraham]

Hi All, I am new to FPML, I am implementing FPML in my exiting java application for a banking client. I ve went through the schema documents but don’t find some of the properties in FPML schema like tradeId, tradeStatus etc. I think these are common properties in all products and might be somewhere in static reference. I would appreciate if someone help me out and refer me some good tutorial or guide. Regards. Johan.

[mgratacos]

Hi Johan, The tradeId is contained inside the tradeHeader structure. Take a look at section 2.7 of the spec where you’ll find a description of the main components (2.7.2 describes de trade). In terms of schema files, these main components are contained within the fpml-doc-4-x.xsd file. I’d also recommend to go through the xml examples. They’ll give you a picture of the whole skeleton of the messages. There isn’t a trade status element in FpML. The xsi:type attribute contains the type of document being sent but there isn’t a place to store the status. You’ll need to extend FpML if you require that. Hope this helps. -Marc

[iqbalhyd]

Hi Marc, Thanks a lot for your help. My application is dealing dual currency deposit, where a party say party1 deposits some principal amount in a base currency say USD for a certain tenor and agreed on a strike rate against term currency say EUR, now there are two possibilities: 1. if at the maturity the spot falls down than the strike, the party1 will receives principal plus interest base currency. 2. if spot does not falls, then party1 will receives an enhance deal i.e. amount in term currency at strike rate + interest. I have identified that FPML does not supports such product but need some enhancement to reflect a new product. I would really appreciate if some one help me out to extend FPML or refer me some document/tutorial in this regard? I know there are a lot of XML components developed and laying under shared component area, I want to make sure that the new component I am going to design should not duplication with existing one. What is the best way to do so? Regards. John

[mgratacos]

Hi John, In terms of extensions, the Architecture Specification contains a section describing FpML’s preferred approach: http://www.fpml.org/spec/2007/rec-fpml-arch-2-1-2007-12-14/rec-fpml-arch-2-1-2007-12-14-frame.html (Section 6: Extending FpML) You’ll need to browse through the schema in order to identify existing components. If you go to the Specifications http://www.fpml.org/spec/fpml-4-5-1-wd-1/html/index.html (this is the latest 4.5 version), you can go to section 1.2.1 Schema Reference which lists all schema files. In each one of the schema files pages you can find all components, including diagrams. In terms of your product, you may be able to represent it with the FpML component. My understanding is that a dual currency deposity can be modelled with a deposit and an FX option. Both products already exist in FpML (look at the fx schema file). You can bundle them together with the strategy element, which is a type of product that includes one or more products. … … Hope this helps. -Marc

[iqbalhyd]

Hi Marc, Great help thanks. I have build a working draft of new product “dualCurrencyDeposit” and attached is an bird eye view of that. Is there any process to submit my new product and some one verify it? or/and could you if you take a look and give me your thoughts please? Regards, John. [img]http://116.12.50.16:8080/dcd3/public_pages/images/dualCurrencyDeposit.gif[/img]

[mgratacos]

John, I cannot see the picture. We had an image manager that hadn’t been properly configured but it is now. What you can do is create another post, and then click on MANAGER, select Images from the drop down menu, click Add new File, find the file, and then add the image to YOUR message (by clicking one of the alignment buttons under align). This image will also be added to our server. Sorry about this. Thanks, Marc

[iqbalhyd]

Hi Marc, Thanks again for your help. I have created another post with subject “developing a new product” which includes product image, please have a look of that and let me know you thoughts. Regards, John

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