FpML-BP minutes teleconference 2010-06-04

[Marc Gratacos <MGratacos@xxxxxxxx>]

Participants
-------------
Chris Funck (Chatham F.)
Sreedhar Segu (DTCC)
Aleid Oshi? (JPMorgan)
Lyteck Lynhiavu (ISDA)
Peter Stockman (DTCC)
Brian Lynn (GEM)
Matt Simpson (CME)
John Avery (Sungard)
Jonathan Whelan (Standard Bank)
Irina Yermakova (ISDA)
Marc Gratacos (ISDA)

Apologies
-----------
Harry McAllister (BNPParibas)
Martin Sexton (LMS)


DTCC Proposal on Netted Cashflow Matching
------------------------------------------------
Sreedhar went through the updated proposal.
Some points that were brought up during the call:
* Peter Stockman stated that in the commodities cash flow matching processing, it is quite common to express how trades are being picked: by party, by currency, or by unit (power, gas, etc.)
* Brian stated that Peter's point is an excellent example of why distinct message types for netted cash flow matching are better than reusing an existing message. New requirements will arise needing additional elements.
* Harry's response regarding tradeIdentifyingItems should be incorporated.
* The existing Cashflow Matching messages available since version 4.4 in FpML have been used for reporting. Enhancements to the messages will come when firms start using them for matching purposes.
* The proposal, once approved, it will be incorporated in FpML versions 4.9 and 5.1. It's too late to incorporate it in 4.8 since it is already in Trial Recommendation.

Action:
* Sreedhar will update the proposal and send its final version for approval in the next meeting.


CME Proposal on Cashflow within Position Reporting
-------------------------------------------------------
Matt went through the updated proposal:
* The goal is to have a Position Report message including trade + valuation + cashflows.
* The position of adjusted payment date need to be changed a bit depending on how the payment type is going to be constructed but placement within payment is good.

Action:
* Matt will update the proposal and send its final version for approval in the next meeting.

CME Proposal on changing the cardinality of sentBy element
--------------------------------------------------------------
* The aim of the proposal is to be able to support multiple identifiers of a single sender. This is not to represent multiple senders.
* The snippet included as example doesn't seem to show the purpose of the proposal. The schemes should indicate that the source of the list is CME, whether it's a CME's firm id, CME's sytem id, etc.
* Further discussion is needed since this is a core element of the message header.

Please let me know if I missed anything.

thanks,
Marc



The information contained in either this email and, if applicable, the attachment, are confidential and are intended only for the recipient. The contents of either the email or the attachment may not be disclosed or used by anyone other than the addressee. If you are not the intended recipient(s), any use, disclosure, copying, or distribution is prohibited and may be unlawful. If you have received this communication in error, please notify us by e-mail at isda@xxxxxxxx <mailto:isda@xxxxxxxx> then delete the e-mail and all attachments and any copies thereof. This communication is part of an ISDA process and is not intended for unauthorized use or distribution.

-------------------------------------------------------------------------------
To unsubscribe: Email majordomo@xxxxxxxx with a blank subject line
In the body include the line: unsubscribe bpwg youremail@address
To view archives: http://www.fpml.org/_wgmail/_bpwgmail/threads.html