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FpML Messaging Subgroup Gap Analysis October 2012

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.

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FpML Messaging Subgroup Gap Analysis October 2012

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  1. 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.

  2. Gap Analysis Overview • 11 messages defined in a new FpML pretradeview to support clearing certainty workflows • Sample messages and supporting schema developed • Verified against uses cases (some open questions)

  3. 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) harmeet.s.singh@baml.com • Lyteck Lynhiavu (ISDA) llynhiavu@isda.org

  4. APPENDIX

  5. Request Limit Check Limit check model type Approval mode Standard product representation currently supported in FpML

  6. Limit Check Response (approved) Full Approval Approval type Approval ID Reconfirming original request details

  7. Limit Check Response (approved) Requested Amount Partial Approval Approved Amount Reason code and description Approval ID Reconfirming original request details

  8. Fuel Gauge (creditLimitReport) Confirmation of current model Specifying asset class and Product taxonomy Limit characteristics and Utilization Expiration date and time

  9. Limit Update (setCreditLimit) Limit update always replaces existing set limits Limit ID Specifying asset class and Product taxonomy Limit characteristics and Utilization Expiration date and time

  10. Kill Switch (suspendCredit) Kill switch reason code and description

  11. Unkill(suspendCreditRetracted) Unkill can be instruction to enable an account OR additionally provide limit parameters New Limit characteristics and Utilization

  12. Heartbeat (serviceNotification) Heartbeat Service Status indicator

  13. Order Status (orderStatusNotification) Order status (e.g., placed, executed, closed) Order characteristics Standard product representation currently supported in FpML Approval ID

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