fpml messaging subgroup gap analysis october 2012

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Copyright © 2012 International Swaps and Derivatives Association, Inc. October 2012- SLIDE 1 FpML Messaging Subgroup Gap Analysis October 2012 ISDA/FIA Clearing Certainty WG ® ISDA is a registered trademark of the International Swaps & Derivatives Association, Inc. ® FpML is a registered trademark of the International Swaps & Derivatives Association, Inc.

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ISDA/FIA Clearing Certainty WG. FpML Messaging Subgroup Gap Analysis October 2012. ® ISDA is a registered trademark of the International Swaps & Derivatives Association, Inc. ® FpML is a registered trademark of the International Swaps & Derivatives Association, Inc. Gap Analysis Overview. - PowerPoint PPT Presentation

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Page 1: FpML Messaging Subgroup Gap  Analysis October 2012

Copyright © 2012 International Swaps and Derivatives Association, Inc. October 2012- SLIDE 1

FpML Messaging SubgroupGap Analysis

October 2012

ISDA/FIA Clearing Certainty WG

®ISDA is a registered trademark of the International Swaps & Derivatives Association, Inc.®FpML is a registered trademark of the International Swaps & Derivatives Association, Inc.

Page 2: FpML Messaging Subgroup Gap  Analysis October 2012

October 2012- SLIDE 2FpML Messaging Subgroup

• 11 messages defined in a new FpML pretrade view to support clearing certainty workflows

• Sample messages and supporting schema developed• Verified against uses cases (some open questions)

Gap Analysis Overview

Page 3: FpML Messaging Subgroup Gap  Analysis October 2012

October 2012- SLIDE 3FpML Messaging Subgroup

Next Steps

• Harmonization with FIX messages (through October/November)

• Timeframe for publication– FpML 5.5 WD1 – A first draft of the messages maybe available end of October 2012 for industry implementation

– FpML 5.5 REC planned January 2013

• Review of the messages by FpML bodies:– FpML Business Process Working Group– FpML Coordination Committee (detailed review by LCWD)– FpML Standards Committee (approval for TR / REC)

• Questions / Contacts– Harmeet Singh (Bank of America) [email protected] – Lyteck Lynhiavu (ISDA) [email protected]

Page 4: FpML Messaging Subgroup Gap  Analysis October 2012

October 2012- SLIDE 4FpML Messaging Subgroup

APPENDIX

Page 5: FpML Messaging Subgroup Gap  Analysis October 2012

October 2012- SLIDE 5FpML Messaging Subgroup

Request Limit Check

Standard product representation currently supported in FpML

Limit check model type

Approval mode

Page 6: FpML Messaging Subgroup Gap  Analysis October 2012

October 2012- SLIDE 6FpML Messaging Subgroup

Limit Check Response (approved)

Approval type

Approval ID

Reconfirming original request details

Full Approval

Page 7: FpML Messaging Subgroup Gap  Analysis October 2012

October 2012- SLIDE 7FpML Messaging Subgroup

Limit Check Response (approved)

Requested Amount

Approval ID

Reconfirming original request details

Approved Amount

Reason code and description

Partial Approval

Page 8: FpML Messaging Subgroup Gap  Analysis October 2012

October 2012- SLIDE 8FpML Messaging Subgroup

Fuel Gauge (creditLimitReport)

Confirmation of current model

Specifying asset class and Product taxonomy

Lim

it ch

arac

teris

tics

and

Util

izat

ion

Expiration date and time

Page 9: FpML Messaging Subgroup Gap  Analysis October 2012

October 2012- SLIDE 9FpML Messaging Subgroup

Limit Update (setCreditLimit)Limit update always replaces existing set limits

Limit IDSpecifying asset class and Product taxonomy

Lim

it ch

arac

teris

tics

and

Util

izat

ion

Expiration date and time

Page 10: FpML Messaging Subgroup Gap  Analysis October 2012

October 2012- SLIDE 10FpML Messaging Subgroup

Kill Switch (suspendCredit)

Kill switch reason code and description

Page 11: FpML Messaging Subgroup Gap  Analysis October 2012

October 2012- SLIDE 11FpML Messaging Subgroup

Unkill (suspendCreditRetracted)

Unkill can be instruction to enable an accountOR additionally provide limit parameters

New Limit characteristics andUtilization

Page 12: FpML Messaging Subgroup Gap  Analysis October 2012

October 2012- SLIDE 12FpML Messaging Subgroup

Heartbeat (serviceNotification)

Heartbeat Service

Status indicator

Page 13: FpML Messaging Subgroup Gap  Analysis October 2012

October 2012- SLIDE 13FpML Messaging Subgroup

Order Status (orderStatusNotification)

Order characteristics

Standard product representation currently supported in FpML

Order status (e.g., placed, executed, closed)

Approval ID