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Fpml Version 2.0 Working Draft 23 August 2001 FpML Version 2.0 Working Draft 23 August 2001 This version: http://www.fpml.org/spec/2001/wd-fpml-2-0-2001-08-23 Latest version: http://www.fpml.org/spec/fpml-2-0 Previous version: http://www.fpml.org/spec/2001/rec-fpml-1-0-2001-05-14 Copyright © 1999, 2000, 2001. All rights reserved. Financial Products Markup Language is subject to the Mozilla Public License Version 1.0. A copy of this license is available at http://www.fpml.org/documents/license. FpML 2.0 Working Draft Status of this Document: This is the FpML Version 2.0 Working Draft for review by the public and by FpML.org members and working groups. It is a draft document and may be updated, replaced or obsoleted by other documents at any time. It is inappropriate to use FpML Working Drafts as reference material or to cite them as other than “work in progress”. This is work in progress and does not imply endorsement by the FpML.org Consortium. The Interest Rate Derivatives (IRD) Products Working Group encourage reviewing organizations to provide feedback as early as possible. Comments on this document should be sent via e-mail to fpml- [email protected]. An archive of the comments is available at http://groups.yahoo.com/group/fpml-issues/messages. Public discussion of FpML takes place on the FpML Discussion List at http://groups.yahoo.com/group/fpml-discuss. A list of current FpML Recommendations and other technical documents can be found at http://www.fpml.org/spec. While implementation experience reports are welcomed, the IRD Products Working Group will not allow early implementation to constrain its ability to make changes to this specification prior to final release. This document has been produced as part of the FpML Version 2.0 activity and is part of the Standards Approval Process. This Activity was initiated by the FpML Board of Directors in October 2000 to extend the FpML Version 1.0 product definitions, which covered interest rate swaps and FRAs, to include further interest rate derivatives products and features. Working Group Members and Acknowledgements: This document was produced in the IRD Products Working Group, which comprises of the following members: • Steven Lord (UBS Warburg), chair • Guy Gurden (SwapsWire), previous chair • Andrew Addison (Merrill Lynch) • Ariane Athalie (BNP Paribas) • Owen Bugge (Blackbird) • Marisol Collazo (Mizuho Capital Markets) • Marie-Paule Dumont (S.W.I.F.T.) • Alexander Ernst (RiskTrak Financial) • Tom Fahy (Goldman Sachs) • Doug Gallager (Reval.com) • Mark Golding (JPMorgan) • David Gorans (BNP Paribas) • Paul Hoskins (Barclays Capital) • Saleem Huda (Algorithmics) • Vlad Iordanov (FinTrack Systems) • Keri Jackson (Cygnifi) - 3 - FpML 2.0 Working Draft • Sathy Kovvali (Citigroup) • Philippe Negri (SunGard Trading & Risk Systems) • Michael North (Reuters) • Henry Teng (UBS Warburg) • Ian Thomas(Credit Suisse First Boston) • Patrick Treanor (Wall Street Systems) • Olga Urrutia (S.W.I.F.T.) • James Williams (Deutsche Bank) • Barry Witkow (Treasury Connect) • Chuck Witter (Bank of America) Working Group Guests • Nicholas Davies (Cygnifi) Editor • Steven Lord (UBS Warburg) - 4 - FpML 2.0 Working Draft TABLE OF CONTENTS 1 INTRODUCTION ..............................................................................................................................................7 2 SCOPE.................................................................................................................................................................8 2.1 SCOPE................................................................................................................................................................8 2.2 ARCHITECTURE FRAMEWORK ...........................................................................................................................8 3 PRODUCT ARCHITECTURE OVERVIEW..................................................................................................9 3.1 INTRODUCTION..................................................................................................................................................9 3.2 COMPONENT FRAMEWORK...............................................................................................................................9 3.3 OVERVIEW OF CORE TRADE COMPONENTS .....................................................................................................10 3.3.1 The Trade Component ...........................................................................................................................10 3.3.2 The Product Component ........................................................................................................................12 3.4 CODING SCHEMES ...........................................................................................................................................36 4 COMPONENT DEFINITIONS.......................................................................................................................38 4.1 INTERPRETING THE DIAGRAMS........................................................................................................................38 4.2 ROOT ELEMENT DEFINITION ...........................................................................................................................39 4.3 ENTITY DEFINITIONS.......................................................................................................................................40 5 DOCUMENT TYPE DEFINITION (DTD)..................................................................................................172 5.1 FPML-DTD-2-0 ...............................................................................................................................................172 6 DATA DICTIONARY....................................................................................................................................189 6.1 ELEMENT DEFINITIONS .................................................................................................................................189 7 CHARACTER ENCODING AND CHARACTER REPERTOIRE ..........................................................242 7.1 CHARACTER ENCODING ................................................................................................................................242 7.2 CHARACTER REPERTOIRE..............................................................................................................................242 8 DATATYPES AND CODING SCHEMES...................................................................................................243 8.1 DATATYPES...................................................................................................................................................243 8.1.1 date ......................................................................................................................................................243 8.1.2 time ......................................................................................................................................................243 8.2 CODING SCHEMES .........................................................................................................................................244 8.2.1 Introduction .........................................................................................................................................244 8.2.2 Averaging Method Scheme (averagingMethodScheme) ......................................................................245 8.2.3 Business Center Scheme (businessCenterScheme) ..............................................................................245 8.2.4 Business Day Convention Scheme (businessDayConventionScheme) .................................................247 8.2.5 Calculation Agent Party Scheme (calculationAgentPartyScheme)......................................................248 8.2.6 Compounding Method Scheme (compoundingMethodScheme)...........................................................249 8.2.7 Currency Scheme (currencyScheme) ...................................................................................................249 8.2.8 Date Relative To Scheme (dateRelativeToScheme) .............................................................................249 8.2.9 Day Count Fraction Scheme (dayCountFractionScheme)...................................................................250 8.2.10 Day Type Scheme (dayTypeScheme) ...............................................................................................251 8.2.11 Discounting Type Scheme (discountingTypeScheme)......................................................................252 8.2.12 Floating Rate Index Scheme (floatingRateIndexScheme)................................................................252 8.2.13 Information Provider Scheme (informationProviderScheme).........................................................253 8.2.14 Negative Interest Rate Treatment Scheme (negativeInterestRateTreatmentScheme)......................253 8.2.15 Party Identifier Scheme (partyIdScheme)........................................................................................254 8.2.16 Payer Receiver Scheme (payerReceiverScheme).............................................................................254 8.2.17 Pay Relative To Scheme (payRelativeToScheme)............................................................................254 8.2.18 Period Scheme (periodScheme).......................................................................................................255
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