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Attendees ======== Lyteck L, ISDA Irina Y, ISDA Andrew J, Handcoded Jason P., BGI (partial) Marc G, ISDA Christian N, Message Automation Regrets ====== Jason P, BGI Robert S, Brookpath Harry McA, BNPP Review of actions ============== - No update from Robert on his actions. Brian to
follow up. - Andrew has circulated paper on restructuring the IR Swap We discussed Andrew’s paper briefly – CN: how do we handle a swap that has a side that goes from
fixed to float? AN: this is a generic issue MG: will the IRD group accept it? Is the benefit of
the additional clarify worth the impact on existing implementations? BL: can we add some examples? can we briefly
document impact on rules? We agreed to take some time to think about whether we wish
to recommend this. Brian mentioned that the Commodities WG noticed that perhaps
the underlying of an IR Swap should be an underlying asset. There were no consensus on whether this is truly an issue.
We agreed to think on this and revisit this at a subsequent meeting. Discussion of identification requirements ================================ We discussed the first recommendation for a few minutes and
agreed on a few points, and tabled the remainder for next meeting due to time
constraints. (See updated version of the paper). Other Items ========= We did not have time to discuss the message classifications
nor the issue statuses. Next meeting =========== Friday May 16, 11 am (NY) / 4 pm (London) – continue following
up on identification, message classification, and open issues, decide on next
step for Andrew’s paper on IR Swap remodeling. |
Attachment:
Identification Requirements May 9 2008.doc
Description: MS-Word document