RE: FpML-EQD FpML EQD WG Minutes 1400 LDN Fri 01 Aug 2008

James,

The schedule for 4-5 is as follows:

AUG- 2008 –WD1

SEP- 2008 –WD2

OCT-2008 –LCWD

NOV 2008 –TR

DEC 2008 –REC

If you have any questions, let me know.

Kind regards,

Irina

From: eqdwg@xxxxxxxx [mailto:eqdwg@xxxxxxxx] On Behalf Of James Clark
Sent: Monday, August 04, 2008 12:52 PM
To: eqdwg@xxxxxxxx
Subject: RE: FpML-EQD FpML EQD WG Minutes 1400 LDN Fri 01 Aug 2008

Irina, Mark, Lyteck,

Do you have an outline release schedule for FpML 4.5 that you could share with the group?

Regards,

James

From: eqdwg@xxxxxxxx [mailto:eqdwg@xxxxxxxx] On Behalf Of andrew.p.parry@xxxxxxxxxxxx
Sent: 04 August 2008 07:56
To: eqdwg@xxxxxxxx
Subject: FpML-EQD FpML EQD WG Minutes 1400 LDN Fri 01 Aug 2008
Importance: High

* Present

Mark Addison, JP Morgan
Takeo Asakura, MarkIt
James Clark, MarkIt
Krishna Devabhaktuni, Citadel Group
Vinod Jain, Headstrong Consulting
Shabbir Irfani, Goldman Sachs
Lyteck Lynhiavi, ISDA
Robert Masri, DTCC
Andrew Parry, JP Morgan
Irina Yermakova, ISDA

* Minutes

No unplanned model changes are required to support ISDA EQD Ops WG top 5 list of products, which are

- European Emerging Market Underlier Coverage
- Baskets
- Options on Variance
- Dispersion Variance Swaps
- Coverage for BRIC40 Index

We have already scheduled Option on Variance Swap for inclusion in FpML-4-5

ISDA legal drafting roadmap provides a high level view, detailed discussion of legal drafting will continue as a standing agenda item

Within the FpML XML Schema set, indirect inclusion paths to required types is viewed as XML Schema legal by the AWG, vendor tools
which require direct inclusion paths should be remediated

When commenting on the European Dispersion Variance Swap General Terms Confirmation I stated

"Katherine, Rosario

Exhibit A includes the column "Weight" linked to the footnote "Insert if specified in the term sheet" which is language often associated with relative or absolute basket weights, whereas the "covered transaction" is comprised of the Index Variance Swap "IVS" transaction, and several Share Variance Swap "SVS" transactions, rather than an Index Variance Swap and a Basket Variance Swap"

which is the same issue noted by James Clark of MarkIt. The FpML model follows the "covered transaction" definition, where the notional amount may differ per leg

Publication of XML Schema and Coding Scheme values will be separated in FpML-4-5 onwards

* Decisions

Add value "ISDA2008EquityOptionJapan" to master confirmation type scheme

Next meeting 1400 LDN Fri 15 Aug 2008

* Actions

All provide Variance Dispersion Confirmation samples
IY add value "ISDA2008EquityOptionJapan" to master confirmation type scheme as proposed by James Clark of MarkIt

Andrew Parry
+44 20 7325 1486
Exotics and Hybrids Architecture
JP Morgan

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