[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

RE: FpML-VAL Updated FX Rule Proposal


Thank you for the response that fully answers the question on Comment 2. I assume that Comment 1 is accepted.

My concern is not with this proposal; instead my concern is that the SC are not following the AWG principle of when we have a choice between a Schema representation and a Rule respresentation that we prefer the Schema representation. This was advocated strongly by John Weir of Goldmans at the AWG and was adopted a couple of years ago. The decision of the SC and the AWG should be brought into consistency. We should challenge the SC to adopt a position without internal contradictions.

Is the resolution to Comment 3 and Comment 4 to add an explanation at the top of the page for FX Rules?

Matthew Rawlings
+44 7917 596 827


"Andrew Jacobs" <andrew.jacobs@xxxxxxxxxxxxxx>
Sent by: valwg@xxxxxxxx

12/03/2008 10:18

Please respond to
valwg@xxxxxxxx
To
<valwg@xxxxxxxx>
cc
Subject
RE: FpML-VAL Updated FX Rule Proposal





Many of these rules can be expressed as facets but this 1) requires the agreement of the standards committee who in the past have been reluctant to allow such changes and 2) is not backwards compatible to previous versions of FpML where these products are present (oops sorry, exist).
 
It was agreed by the VWG they would be represented as rules and deprecated at a later date when they become facets.
 
Andrew
 
 -----Original Message-----
From: valwg@xxxxxxxx [mailto:valwg@xxxxxxxx] On Behalf Of matthew.d.rawlings@xxxxxxxxxxxx
Sent: 11 March 2008 19:03
To: valwg@xxxxxxxx
Subject: Re: FpML-VAL Updated FX Rule Proposal

The rules are very welcome. They will help with FX.

I have a few comments:
1.        "present" versus "exists" - we previously discussed this choice of terms at the VWG and agreed to use "exists" because the semantics are clearly defined in XPath.
2.        Why can't fx-24 be represented in the schema using a facet?
3.        fx-12 - how do I "match one of the calculated schedule dates"?
4.        fx-13 - how do I "should fall on a date defined by averageRateObservationDate/observationDate"?


Matthew Rawlings
+44 7917 596 827

"Andrew Jacobs" <andrew.jacobs@xxxxxxxxxxxxxx>
Sent by: valwg@xxxxxxxx

11/03/2008 11:44

Please respond to
valwg@xxxxxxxx
To
<valwg@xxxxxxxx>
cc
Subject
FpML-VAL Updated FX Rule Proposal







With the corrections discussed previously.

Thanks
 
Andrew Jacobs
Director & CTO
HandCoded Software Ltd
Mob: +44 (0)7710 304239
[attachment "FX Business Validation Rules.doc" deleted by Matthew D Rawlings/JPMCHASE]

This communication is for informational purposes only. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. All market prices, data and other information are not warranted as to completeness or accuracy and are subject to change without notice. Any comments or statements made herein do not necessarily reflect those of JPMorgan Chase & Co., its subsidiaries and affiliates. This transmission may contain information that is privileged, confidential, legally privileged, and/or exempt from disclosure under applicable law. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution, or use of the information contained herein (including any reliance thereon) is STRICTLY PROHIBITED. Although this transmission and any attachments are believed to be free of any virus or other defect that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by JPMorgan Chase & Co., its subsidiaries and affiliates, as applicable, for any loss or damage arising in any way from its use. If you received this transmission in error, please immediately contact the sender and destroy the material in its entirety, whether in electronic or hard copy format. Thank you. Please refer to http://www.jpmorgan.com/pages/disclosures for disclosures relating to UK legal entities.

This communication is for informational purposes only. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. All market prices, data and other information are not warranted as to completeness or accuracy and are subject to change without notice. Any comments or statements made herein do not necessarily reflect those of JPMorgan Chase & Co., its subsidiaries and affiliates. This transmission may contain information that is privileged, confidential, legally privileged, and/or exempt from disclosure under applicable law. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution, or use of the information contained herein (including any reliance thereon) is STRICTLY PROHIBITED. Although this transmission and any attachments are believed to be free of any virus or other defect that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by JPMorgan Chase & Co., its subsidiaries and affiliates, as applicable, for any loss or damage arising in any way from its use. If you received this transmission in error, please immediately contact the sender and destroy the material in its entirety, whether in electronic or hard copy format. Thank you. Please refer to http://www.jpmorgan.com/pages/disclosures for disclosures relating to UK legal entities.