FpML Issues Tracker
closed
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Validation Rules
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Summary
" (Mandatory) Preconditions: isParametric paymentDates/firstPaymentDate > calculationPeriodDates/effectiveDate/unadjustedDate. "
The problem is that firstPaymentDate is an optional element. The firstPaymentDates only apply for legs with an initial stub.
I suggest either we add a 'precondition' for ird-6 that the swapStream "hasInitialStub".
Notes:
matthew
03/27/08 9:53 pm
Assigning to VWG and PF-W.
andrew
04/22/08 2:10 pm
How about
Preconditions: isParametric
If paymentDates/firstPaymentDate and calculationPeriodDates/effectiveDate both exist then paymentDates/firstPaymentDate > calculationPeriodDates/effectiveDate/unadjustedDate.
Also addresses issue #615
iyermakova
05/20/08 1:53 pm
ValWG 2008-05-20: agreement to make the change to have both Preconditions: isParametric and hasInitialStub
lyteck
07/14/08 8:48 pm
fixed as proposed:
– added “hasInitialStub” condition
– added local condition as suggested by Andrew (though, I don’t see how it addresses 615)
matthewdr
08/12/08 4:37 pm
The problem with the resolution was the all the proposals were implemented rather than just the proposal selected by the VWG.
Currently:
”
ird-6 (Mandatory)
Context: InterestRateStream (complex type)
[isParametric] [hasInitialStub] [if both paymentDates/firstPaymentDate and calculationPeriodDates/effectiveDate exist]
”
As it was supposed to be according to the VWG:
”
ird-6 (Mandatory)
Context: InterestRateStream (complex type)
[isParametric] [hasInitialStub]
”
Please implement as per the VWG’s decision.
h_mcallister
08/18/08 2:37 pm
Please note, the precondition that the swapStream “hasInitialStub” does not guarantee the existence of firstPaymentDate.
The schema annotation states “This element must only be included if there is an initial stub” – but it does not assert that firstPaymentDate is always produced where there is an initial stub.
matthewdr
08/19/08 4:49 pm
Based on Harry’s feedback we need to reconsider this. I believe what Harry is saying is that the definition of hasInitialStub is incorrect.
”
Condition: hasInitialStub
(context: InterestRateStream) paymentDates/firstPaymentDate exists.
”
I suggest we remove the condition “hasInitialStub”. Then we change the rule to say:
”
ird-6 (Mandatory)
Context: InterestRateStream (complex type)
[isParametric] [paymentDates/firstPaymentDate exists] [calculationPeriodDates/effectiveDate exists]
paymentDates/firstPaymentDate > calculationPeriodDates/effectiveDate/unadjustedDate.
”
matthewdr
08/19/08 4:52 pm
re-opening because of the feedback from Harry.
lyteck
08/19/08 6:10 pm
fixed as last proposed by Matthew (removed condition hasInitialStub).
matthewdr
08/20/08 9:23 am
Closing after review.