Novation is generally triggered by the transferor, however novation message will be received by the remaining party and the transferee as well. When the novation message is fed in the system, FpML has elements which details the party identifier for Transferor, transferee and the remaining party. However looking at the message how do one figure out ‘who am I” in this message, transferor/transferee/remaining party? There are 3 parties involved, however I am clueless in figuring out my party reference.
