Group Information

Mission: Further the use and understanding of FpML in Russia. The current goal is to extend the FpML standard to define data elements to be used for reporting OTC derivative positions to Trade Repositories in Russia. The working group will cover reporting processes described by the Order No. 11-68pz-n of the Federal Financial Markets Service of Russia as of 28 December 2011

Chairs of Working Group

Pavel Soloviev (NSD)

Andrey Salaschenko (RTS)

Participants

ISDA RTS/co-Chair NSD/co-Chair BAML Barclays BNYMellon BNPParibas DRG Goldman Sachs GEM HSBCIB Incept5 ING Bank JPM LSE Markit Morgan Stanley Nomura Societe Generale Global-IT NAUFOR MZS RTS SPB Exchange RBS UBS Unicredit Group VTB Capital

Group Charter

Scope: Russian implementation working group - Initial focus on the reporting requirements

• Review and analyze the FFMS Regulatory Reporting Requirements against FpML
• Define the data elements that should be available for reporting in Russia. This includes deciding how these should be grouped together, defining additional business messaging for bilateral reporting, etc. .
• Work done by NSD, RTS, FpML reporting working group
• Registration of master agreements:
• Define master agreement formats (ISDA, GMRA, other types of master agreements). This includes defining data elements, grouping them together, defining business process (e.g., master agreement execution, amendment, etc.) The initial focus will be on the Russian requirements
• Additional Products:
• Define products that need to be reported under FFMS regulation for which the FpML standard does not currently have a defined product representation (e.g. bond forwards, repos)

Priorities:

• General fields and terms that are not covered in FpML
• Master agreement (new area)
• FX Swaps (FpML representation)
• Repo (review of the existing extensions and additional proposals)
• Statement Reporting
• Collateral transfer reporting
• Quarterly reporting
• FX Options (FpML representation)
• IR Swap (FpML representation)
• Everything else

Meeting Schedule: The group meets Wednesdays at 8:00am New York/1:00pm London/16:00Moscow for one hour. This schedule may adjust as necessary.. A group discussion list will be used to manage group communication and to provide an archive of discussions and decisions. Rules of Operation The working group will adopt the FpML Working Group Rules of Operation. These outline best-practices for meetings, managing member participation, reaching group consensus and voting. Estimated time commitment from Participants: Members should be prepared to commit approximately 2 hours per week for meeting participation and document review. Full members must have the agreement and support of their management before signing up to the Working Group. It is expected that participants will be signing up for action items and proposals, and will generally be participating in discussions during the week. Participants will also need to liaise with other working group members to ensure the consistency of the standard. Experience has shown that occasional face-to-face meetings can expedite the process so members should be aware that some travel and full-day meetings might be required. Target Participants: Business analysts, technical architects, business specialists

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