FpML Issues Tracker

Summary

The interepretation of the CreditCurve complex type is brittle to the element order. There are two elements inside CreditCurve that are different elements but have the same name. The name of these two elements is "currency".

Knowing which currency element is which is only possible by knowing the order of the elements. This is completely legal XML and XML Schema, but is it wise for us to rely on this because it may be brittle to any change.

A generic credit curve definition. The set of characterstics that describe the outputs of a credit curve. The material credit event. The level of seniority of the deliverable obligation. Whether the deliverable obligation is secured or unsecured. The currency of denomination of the deliverable obligation. The underlying obligations of the reference entity on which you are buying or selling protection What sort of obligation may be delivered in the event of the credit event. ISDA 2003 Term: Obligation Category/Deliverable Obligation Category

I propose that we add a rule to the FpML Architecture that FpML schemas should not rely on element order for interpretation. This can be added to the new Architecture for implementation in 5.x.