FpML Issues Tracker

1325: Using stubPeriodType more than once at one swapStream

August 24, 2023

closed

Trivial

N/A

Architecture

XAPWG

Liudmyla

None

Summary

Hello,

Could you please clarify if it is possible to use <stubPeriodType> twice for the one <swapStream> to identify the type of the Initial and Final stubs as in the XML below? ... <firstRegularPeriodStartDate>2000-10-05</firstRegularPeriodStartDate> <lastRegularPeriodEndDate>2004-10-05</lastRegularPeriodEndDate> <stubPeriodType>LongInitial</stubPeriodType> <stubPeriodType>ShortFinal</stubPeriodType> <calculationPeriodFrequency> <periodMultiplier>6</periodMultiplier> <period>M</period> <rollConvention>5</rollConvention> </calculationPeriodFrequency> ...

During the validation of such document via FpML validator by TRADEHEADER there is the next error:

Syntax Validation Error Message:cvc-complex-type.2.4.a: Invalid content was found starting with element 'stubPeriodType'. One of '{"http://www.fpml.org/FpML- 5/confirmation":calculationPeriod Frequency}' is expected.

 

Best regards,

Liudmyla

 

Notes:

  • mgratacos

    08/29/23 2:50 am

    It’s a limitation of the FpML Schema. Only one stubPeriodType is allowed within a swapStream.

  • Liudmyla

    08/31/23 10:35 am

    Thank you a lot for the reply.

  • JasonPolis

    08/31/23 10:42 am

    XAPWG 2023-08-31:

    Valid question about the limitation of the schema..

    Design Options include:

    1. Permit two stubPeriodType
    2. Add optional initialStubPeriodType and finalStubPeriodType
    3. Add 4 values to enumeration to StubPeriodTypeEnum to support valid combinations – ShortInitialShortFinal , LongInitialShortFinal , ShortInitialLongFinal , LongInitialLongFinal

  • h_mcallister

    09/01/23 6:32 am

    The canonical representation of stubs in FpML uses firstRegularPeriodStartDate|lastRegularPeriodEndDate – one or both of these elements should be produced, depending on whether an initial or final stub exists (or both).

    stubPeriodType supplements (but does not replace) these elements, and may be useful where the system ingesting FpML relies on a Long|Short Initial|Final stub notation.

    I am not in favour of extending the existing enumeration to support edge cases which should be disambiguated using the ..RegularPeriod..Date elements.

  • JasonPolis

    09/11/23 11:46 am

    Liudmyla, does your ingesting system rely on two stubPeriodType,
    or can it disambiguate using the ..RegularPeriod..Date elements ?

  • Liudmyla

    09/12/23 10:11 am

    Thank you a lot for the reply. Based on your previous answer we understood the logic of this element from the FpML side and our questions is resolved.

    Thank you.

     

  • jbaserba

    03/18/24 7:57 am

    Request for information solved. Marked as closed.

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