FpML Issues Tracker

Summary

This e-mail outlines the changes introduced between:

FpML Version 1.0 Last Call Working Draft 1 June 2000 ( http://www.fpml.org/spec/2000/wd-fpml-1-0-2000-06-01)

and:

FpML Version 1.0 Trial Recommendation 25 September 2000 ( http://www.fpml.org/spec/2000/tr-fpml-1-0-2000-09-25).

DTD Changes -----------

1. The only changes to the DTD relate to the addition of optional id attributes to a number of elements.

Changes Resulting from the Publication of the 2000 ISDA Definitions -------------------------------------------------------------------

2. The 2000 ISDA Definitions were published in July 2000. Where references were being made in the specification to specific sections of earlier ISDA Definitions these have been updated to refer to the relevant section in the 2000 ISDA Definitions.

3. Changes were made to the following coding Schemes as a result of its publication:

- businessCenterScheme - dayCountFractionScheme - floatingRateIndexScheme

Details of the changes are described in the following section.

Coding Scheme Changes ---------------------

4. It was decided to add the date, e.g. /2000/, into the URIs for all the FpML-defined coding Schemes. Note that this does not apply to those external coding Schemes, without a well-known URI, where FpML assigns a URI as a proxy.

5. Additional business center domain codes were added into the businessCenterScheme to reflect additional centers defined in the 2000 ISDA Definitions and additional codes being used by S.W.I.F.T. in their MT340/MT360 messages.

6. The dayCountFractionScheme domain values were aligned with those specified in the 2000 ISDA Definitions. The list of domain values in the Last Call Working Draft had been based on a draft version of the 2000 ISDA Definitions.

7. The floatingRateIndexScheme is now categorized as an external coding Scheme which does not have a well-known URI. In this case, FpML assigns a URI as a proxy to refer to the concept of the external Scheme. A number of different proxy URIs have been defined to allow floating rate index code definitions to be associated with specific definitions and provisions published by ISDA. The sample FpML trades show examples of how these different URIs should be used.

Documentation Changes ---------------------

8. The definitions of a number of date or schedule elements have been improved to make it clear either:

a) if the date(s) are unadjusted or adjusted b) if adjusted, where the adjustments should come from.

Specific elements affected are:

[not available]

9. The description of the FpML_CalculationPeriodDates entity has been changed to make it clearer that implicit stubs are not allowed.

10. Various errata was corrected including:

a) that identified in issue number 21 b) occurrence rule for element in entity FpML_FloatingRateDefinition should have read 'zero or one occurrence'. DTD and DTD diagram had always been correct.

11. Section 8.2.1 (Coding Schemes - Introduction) was modified to ensure consistency with the Schemes definition in the FpML Architecture 1.0 Trial Recommendation.

If you have any questions regarding these changes please post them to the FpML discussion group (discuss@fpml.org).

Regards Guy Gurden FpML Products Working Group