fpml messaging subgroup gap analysis october 2012
DESCRIPTION
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 PresentationTRANSCRIPT
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.
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
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]
October 2012- SLIDE 4FpML Messaging Subgroup
APPENDIX
October 2012- SLIDE 5FpML Messaging Subgroup
Request Limit Check
Standard product representation currently supported in FpML
Limit check model type
Approval mode
October 2012- SLIDE 6FpML Messaging Subgroup
Limit Check Response (approved)
Approval type
Approval ID
Reconfirming original request details
Full Approval
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
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
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
October 2012- SLIDE 10FpML Messaging Subgroup
Kill Switch (suspendCredit)
Kill switch reason code and description
October 2012- SLIDE 11FpML Messaging Subgroup
Unkill (suspendCreditRetracted)
Unkill can be instruction to enable an accountOR additionally provide limit parameters
New Limit characteristics andUtilization
October 2012- SLIDE 12FpML Messaging Subgroup
Heartbeat (serviceNotification)
Heartbeat Service
Status indicator
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