FpML-IM-Custodian Query on Version number

[<vinod.jain@xxxxxxxxx>]

Hi all

 

The current documentation allows the version number to be a continuous running number. This can lead to a version number to 5 or more characters in length for a first version of the contract create message received.

 

It is proposed that the version number series to be reset for each new contract.

 

Let us know your opinion on the above.

 

Regards

Vinod Jain

Desk – 212 815 5202

 

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From: im-custodian@xxxxxxxx [mailto:im-custodian@xxxxxxxx] On Behalf Of Marc Gratacos
Sent: Wednesday, November 28, 2007 12:00 PM
To: im-custodian@xxxxxxxx
Subject: FpML-IM-Custodian minutes 2007-11-28

 

Participants

Lucio Iida (BGI)

Randy Magdaluyo (State Street)

Francoise Bassin (SWIFT)

Joshua Derrick (SWIFT)

Jason Brasile (State Street)

John Booth (Northern Trust)

Scott Hyas (Northern Trust)

Marc Gratacos (ISDA)

 

Apologies

Robert Stowsky (BrookPath Partners)

Neil Wright (State Street)

Christian Unger (BBH)

 

1. Chairing the group
1. Lucio Iida (BGI) and Neil Wright (State Street) have volunteered to co-chair the group.
2. Comments on Cancellation of Contract Notifications
1. The assumption behind the cancellation messages is that they will cancel the entire conversation within the event. So if multiple messages are sent within the event, the cancellation message will cancel all of them. Everyone agreed to that.
2. The optional information about the event may be useful for manual process. If the process was fully automated, the information may not be necessary but since exceptions may be handled manually, it would be useful to have that information in the message.
3. The business process definition should make sure that it is not possible to cancel an event to a contract once a subsequent event has been applied to that contract (e.g. increase, novation, cancel the increase). Otherwise, the processing of the cancellation would be impossible.
4. The current proposal will be sent to the Business Process and Coordination Committee for final approval in order to be included in FpML 4.4.

 

Please, let me know if I missed anything.

 

Kind Regards,

-Marc

+13472846531

 

 

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