Proposed changes to the FpML Coding Schemes XML format

Marc Gratacos (ISDA)

Background

• FpML publishes its coding schemes in XML format– Based on genericode version 0.2

www.genericode.org

• ISO 20022 is defining a set of requirements for coding schemes– Input from genericode, institutions (some of them

FpML users), etc.

• Opportunity for aligment between FpML and ISO 20022

FpML Coding Schemes

• Versioned– Minor version - additional values– Major version - removal of values, changes to

existing values

• No history of added/removed values– Diffs need to be made between versions to

know what values have been changed

ISO Requirements – Maintenance and Version Control

• Items in a code list should never be deleted. Deprecation should be allowed (an element can clearly be marked as not intended for further use). Usage should not imply a faulty or failed message. And it should never be removed from the list.

• Items in a code list should have 5 attributes, value, name, definition, origin/requester and introduced date.

• Code lists and codes will be subject to status and version control:– Code list series version – Code list version– Individual code version

• Versions will reflect status and date.• Codes may not be deleted (but may be deactivated).• Code lists should be backwards compatible.

Comparison between ISO Requirements and FpML

ISO 20022 Code lists FpML Coding Schemes

Numeric index??? Not available

Code Code

Valid from/expires on Not available

Name Not available

Definition Description

Origin/Requester Source

Introduced Date Not available

Code Status (new, removed???) Not available

Code Status Date Not available

Open Questions

• Is there any convention for the numeric index?

• What “Valid from” value should we use for existing codes?

• What would be the difference between code name and code in FpML?

• What are the code status that a code may have?