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Dial-in Details US: + 1 (888) 481 - 3032 Intl: + 1 (617) 801- 9600 UK: 0800 904-7961 Participant Code: 28413758 Agenda 1.
Review attached
updated schema. a.
Feedback…? 2.
Discuss next steps a.
Further potential changes
for January.
i.
Pending potential
PIK review. Waiting for documentation outlining potential changes to current
schema (Ann Taylor).
ii.
Rollover changes are
currently not scheduled for implementation (changes relating to relationships
between old and current contracts – Mazhar Iqbal). b.
Business validations
documentation to be created for v5.x. Regards, Bhavik Katira CEO TenDelta™ Fresh
insight. Pure logic. +1.917.582.4574 new york +44.(0).7780.808732 london TenDelta™
provides business process consulting, technology design & education
services; specializing in the Syndicated Loan Market. Entrusted with
engineering innovative & logical solutions; we endeavor to deliver timely,
robust, cutting-edge solutions. Copyright
©2008-2009. TenDelta™ LLC (US), TenDelta™ Limited (UK). All Rights Reserved. From: loanwg@xxxxxxxx
[mailto:loanwg@xxxxxxxx] On Behalf Of Bhavik Katira Some further updates based on
business group feedback today and also further design input. This is only a
proposal, please try and review and provide feedback… -
CashFlowPayment(s)
renamed to CashFlow(s). Since these are actually cash flows and not
necessarily payment per say… -
GenericCashFlow.model
added. This is now used on the header section of the FacilityNotice and
appears on all notices. The business group stated that although netting occurs,
it does not happen all the time, so having a standard cash flow section on all
notices makes sense. The GenericCashFlow.model contains a flag and an optional
set of cash flows. The flag is supposed to denote whether there will be an
explicit payment associated with the notice or whether there will be a separate
payments (based on a cash flow notice which will be sent separately). -
I am unsure whether
we should make the cash flow section optional on the facility notice header
i.e. it will only get populated when there is a payment associated with the
notice…? -
CashFlowNotice
renamed to NetCashFlowNotice. This makes sense since it will be used to
designated net cash flows only (if we keep the cash flow as part of the
standard notices). The fpml-loan.xsd has also been
re-organized into separate sections like abstract types, notices, loan
instruments and re-usable concrete types. Eaqch section is ordered alphabetically
(by name of the object). Please let me know if this makes sense or if you have
any other ideas about making the overall schema easier to navigate. Regards, Bhavik Katira CEO TenDelta™ Fresh
insight. Pure logic. +1.917.582.4574 new york +44.(0).7780.808732 london TenDelta™
provides business process consulting, technology design & education
services; specializing in the Syndicated Loan Market. Entrusted with
engineering innovative & logical solutions; we endeavor to deliver timely,
robust, cutting-edge solutions. Copyright
©2008-2009. TenDelta™ LLC (US), TenDelta™ Limited (UK). All Rights Reserved. From: loanwg@xxxxxxxx
[mailto:loanwg@xxxxxxxx] On Behalf Of Bhavik Katira Minutes & Update All changes reviewed and agreed.
See attached schemas for further updates. Additional design changes: -
Rate set notice
(Drawdown Notice), the drawdown payment structure has been made optional. This
will allow the rate set notice to be used on a stand-alone basis (e.g. multiple
re-pricings on a related to a rollover). -
Cash flow notice o
Business events
section introduced. Expanded with a business event type – do we agree this
would be useful…? Combination of business event id and message id assures that
we are referring to the correct version of the underlying message/event. o
Cash flow payments
section introduced. Multiple cash flow sections allow for multi-direction
payments to occur. Is this necessary…? -
PIK documentation to
be provided by Ann Taylor -
Discussion about
whether we should have a more explicit relationship between old and new loan
contract during a rollover. We currently do not. Agreed that maybe we should
have this discussion with the business group but for now we are keeping the
design as is (decoupled loan contracts during rollover). With respect to release timings,
the FpML organization is currently working on 4.7 and 5.0 in parallel. As a
result of the amount of changes we have made during the last design iteration
(some of which are backwardly incompatible), it seems prudent for us to release
in the 5.x series. 5.0 is currently at the 4th working draft stage
(as of mid-December) and may move to Last Call Working Draft by mid-Jan. The Loan Working Group decided
that we will review where we are by mid-Jan, if we are not ready then there
will be NO LOAN schema included in 5.0. It is important for us to ensure that
the code released in the 5.x series is properly tested and reviewed and will
not require further incompatible updates/changes as we progress through the 5.x
versions. For 5.0, we will be looking at a
Q1 recommendation and 5.1 will be a Q2 recommendation. Regards, Bhavik Katira CEO TenDelta™ Fresh
insight. Pure logic. +1.917.582.4574 new york +44.(0).7780.808732 london TenDelta™
provides business process consulting, technology design & education
services; specializing in the Syndicated Loan Market. Entrusted with
engineering innovative & logical solutions; we endeavor to deliver timely,
robust, cutting-edge solutions. Copyright
©2008-2009. TenDelta™ LLC (US), TenDelta™ Limited (UK). All Rights Reserved. From: loanwg@xxxxxxxx
[mailto:loanwg@xxxxxxxx] On Behalf Of Bhavik Katira Dial-in Details US: + 1 (888) 481 - 3032 Intl: + 1 (617) 801- 9600 UK: 0800 904-7961 Participant Code: 28413758 New schema attached. Agenda 1.
AmountAdjustment
introduced. a.
Used in the
currentContracts section of the Rollover Notice. b.
Used in the
Commitment Adjustment Notice. c.
Used in L/C Balance
Change Notice. Removed Prior Amount to be consistent with other notices. 2.
Created a new
MarginRateChangeTypeEnum. Introduced into the MarginRateChange Notice to define
whether the margin rate change is associated with the Cash or PIK margin. 3.
Rate Set Notice with
respect to Rollovers. If we make the drawdownPayment section optional then it
only leaves the actual event types as a required field on the entire notice.
Discuss design options… 4.
Combination messages
in a single structure. It is essential that any combinational messages are
designed for the purposes of when the resulting message is a valid business
scenario rather than for ‘volume’ reasons – discuss. E.g. If there are 10
interest payments then what is the value associated with combining the messages
in a single ‘structure’ (if the header is not too ‘heavy’)…? 5.
Cash flow message
types. Initial design idea presented containing a standalone message which
contains references to other business events. Let’s discuss this potential
design. a.
Should we capture
the individual business event amounts, together with the overall ‘net’ payment
amount…? b.
Should there be
multiple payments in multiple directions…? Party A pays X to Party B and Party
B pays Y amount to Party A. c.
Should there be
other parties involved in the payment/cash flow itself…? We also need to discuss the next
steps with respect to release timings. The FpML group is working towards 4.7 and
simultaneously a 5.0 release. We are at a stage where we have made many changes
to many notices (some of which are backwardly incompatible). It seems this
would be a good point for us to move across to a 5.x release. Regards, Bhavik Katira CEO TenDelta™ Fresh
insight. Pure logic. +1.917.582.4574 new york +44.(0).7780.808732 london TenDelta™
provides business process consulting, technology design & education
services; specializing in the Syndicated Loan Market. Entrusted with
engineering innovative & logical solutions; we endeavor to deliver timely,
robust, cutting-edge solutions. Copyright
©2008-2009. TenDelta™ LLC (US), TenDelta™ Limited (UK). All Rights Reserved. |
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