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FpML-Com Reminder: FpML Commodity Working Group call today (Friday 22 May) at 15:00 LON / 10:00 NYC

All,

Please note that there is a call today at 15:00 London / 10:00 New York.


AGENDA:

1. Minutes / Actions from last call (attached)

2. Physical COAL

  - Discussion of questions document (attached).

  - Review of coal product attributes proposal from Farzad Moshfeghi
(attached).

  - Review of proposed changes to the schema to support non-US coal
transactions (to follow).

3. AOB


Dial in details:

US: 1 888 481 3032

UK: 0 800 904 7961

Intl: 1 617 801 9600

Participant Code: 52016709


Regards,

Owen King
+44 20 7071 0137



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Attachment: Physical Commodities Questions - Coal v1.doc
Description: Physical Commodities Questions - Coal v1.doc

--- Begin Message --- 
* Present
Marc Gratacos, ISDA
Raphael Iyageh, GS
Owen King, Markit (Chair)
Farzad Moshfeghi, Standard Bank
Peter Stockman, DTCC
William Wise, Markit
Irina Yermakova, ISDA


* Review outstanding actions

>> ALL to find out more details on averaging-in options.
Awaiting feedback. [Carried Forward]

>> ALL To send example confirmations for power trades documented under
ISDA/EEI/GTMA.
Additional confirmations would be appreciated. [Carried Forward]

>> ALL to provide sample coal confirmations.
No additional coal confirmations have been received, especially floating
price. [Carried Forward]

>> RI to send an email to the group outlining GS's use of oil grade
values.
RI sent this on 2009-05-08. [Closed]


* Minutes

1. Product names for physical transactions

There were no further comments regarding product naming. The types used
for different products will therefore be as follows:

- CommodityForward
  + Fixed Price, Single Period (Bullion)

- CommoditySwap
  + Fixed or Floating Price, Single or Multiple Periods (Gas, Oil,
Electricity, Coal)


2. Physical COAL

FM asked whether there was a good understanding of what data types coal
product properties could take (e.g. BTU/LB). OK said that these were
specified on the ISDA confirmation template.

FM said he would put together a revised coal product definition and
circulate it to the group.

There were no further comments on the paper.


3. Physical OIL

MG recommended that a external coding scheme is created for each
pipeline/set of product specifications without reference to the version
to avoid the scheme needing regular updates. MG clarified that an
external coding scheme definition exists in the schema documentation
only.

WW said he would forward OK a Platts document that listed the major US
oil pipelines.


4. Physical ELECTRICITY and GAS

PS volunteered to compile a list of U.S. power delivery locations.


* Actions

[Carried Forward] ALL to find out more details on averaging-in options.

[Carried Forward] ALL To send example confirmations for power trades
documented under ISDA/EEI/GTMA.

[Carried Forward] ALL to provide sample coal confirmations.

[New] ALL to provide feedback on the physical coal questions paper
(attached).

[New] FM to circulate revised coal product schema

[New] PS to collate and circulate list of US power delivery locations.

* Next meeting 15:00 UK / 10:00 US Fri 22th May 2009




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Markit and its affiliated companies make no warranty as to the accuracy or completeness of any information contained in this message and hereby exclude any liability of any kind for the information contained herein. Any opinions expressed in this message are those of the author and do not necessarily reflect the opinions of Markit.
For full details about Markit, its offerings and legal terms and conditions, please see Markit's website at http://www.markit.com <http://www.markit.com/> .

--- End Message ---
--- Begin Message ---
Title: Proposal for representing coal attributes

Dear all,

Following the last Commodities WG meeting I have made minor changes to the schema to propose the representation of Coal attributes.

Please find details in file:
<<fpml-com.xsd>>

The main changes from the previous proposal are the introduction of CoalAttributePercentage.Model and CoalAttributeDecimal.Model. This complex type is used to instantiate a number of elements where we need to specify a minimum acceptance level and/or an exact amount either as a percentage or as absolute amounts.

The CoalStandardQuality complex type now appears as :
<<coalStandardQuality.png>>

PBrush


Attachment: fpml-com.xsd
Description: fpml-com.xsd

Attachment: coalStandardQuality.png
Description: coalStandardQuality.png

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