FpML Issues Tracker

632: valid-cd-23-03.xml doesn’t trigger cd-23, and invalid for cd-21 and cd-22

March 3, 2008

closed

Minor

Always

Validation Rules

Admin

None

Summary

The valid exmaples cd-23-03.xml does not trigger ruled cd-23.

The problem is the example contains a contractual matrix.

The exmaple: " ISDA1999Credit ISDA1999CreditSuccessorAndCreditEvents ISDA1999CreditConvertibleExchangeableAccretingObligations CreditDerivativesPhysicalSettlementMatrix 2005-03-07Z NorthAmericanCorporate "

Precondition: LongForm (context: Trade) (context: Contract) documentation/masterConfirmation and documentation/contractualMatrix are not present and SingleName precondition applies.

As the contract is a shortForm it is causing rules cd-21 and cd-22 to fire.

Notes:

  • ANON

    03/10/08 11:08 am

    As the test case valid-cd-23-03.xml is to prove that when the conditions that SHOULD trigger cd-23 are NOT present, the cd-23 rule error should NOT be triggered, so I think the non-triggering og cd-23 is correct. Is it the case that it would be preferred if the test case did not trigger cd-21 and cd-22 ?

  • matthewdr

    03/10/08 11:18 am

    In nearly all other FpML test cases the following meaning is given:

    Valid Test Case = triggers the rule being tested, results are valid against all rules
    Invalid Test Case = triggers the rule being tested, results are invalid against the rule being tested and valid aginst all other rules

    I suggest this definition of “Valid Test Case” and “Invalid Test Case” is documented in the FpML Validation Rules documentation, and then complied with.

    If there is to be any other definition, then it must also be documented and complied with so that the meaning is transparent.

  • matthewdr

    03/11/08 2:48 pm

    Agreed at VWG for Marc to commit a change.

  • iyermakova

    03/13/08 3:32 pm

    Fixed valid-cd-23-03.xml example to comply with cd-23 rule.
    – added CreditDefaultSwap/physicalSettlementTerms structure
    – removed CreditDefaultSwap/documentation/contractualMatrix

  • iyermakova

    03/13/08 3:34 pm

    the change has been committed to 4-4 (trunk) and 5-0 (branches/FpML-5-0)

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