FpML-BP minutes bpwg/rptwg teleconference 2010-05-28

[Marc Gratacos <MGratacos@xxxxxxxx>]

2010-05-28

Participants
------------
Sreedhar Segu (DTCC)
Matt Simpson (CME)
Miranda ? (CME)
John Avery (Sungard)
Irina Yermakova (ISDA)
Brian Lynn (GEM)
Lucio Iida (BlackRock)
Harry McAllister (BNPParibas)
Marc Gratacos (ISDA)

Apologies
----------
Martin Sexton (LMS)
Tom Brown (OMGEO)

DTCC Proposal
-----------------
Sreedhar went through the proposal.

Some points that came up during the discussion:
* When the support for Cash Flow Matching was introduced, the requirements were to introduce net cashflows per trade, net cashflows for multiple trades was out of scope.
* Additional requirements were defined after the FpML messages were introduced widening the scope of the reconciliation messages to include net payments for multiple trades. Sreedhar sent the requirements.
* The requirement to have the gross cash flows linked to the trade they come from makes perfect sense.
* Some types within the Cash Flow Matching messages are now being used in other processes (Execution Advice). Changing the existing types may impact other processes.
* It would be preferred to create a new Net Cashflow Asserted Message reusing as much as possible from the existing messages but having flexibility to incorporate new elements.

Action:
Sreedhar to update proposal having a Net Cashflow Asserted Message to be able to report net cashflows for multiple trades.

CME Proposal
----------------
Matt went through the proposal.

Some points that came up during the discussion:
* Brian mentioned that the report should include the payment date in a different field as the 'as of date' to report the payment when they are done.
* Some guidelines need to be put together to clarify the use of the existing scheduledDate vs. the new payment structure.
* The existing scheduledDate is more flexible but it's flexibility makes it less clear on how it should be used.
* Complete example would be needed to clarify the full structure.

Action:
Matt to update proposal (circulate full example and schema).

Please let me know if I missed anything.

thanks and regards,
Marc

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