FpML Issues Tracker
closed
Minor
Have not tried
Credit Derivatives
kkonst
mgratacos
Summary
It is unclear why the first invalid input, invalid-cd-21-01.xml, of rule cd-21 at http://fpml.aws.isda.org/spec/fpml-5-3-4-lcwd-1/html/confirmation/index.html is invalid.
There is a comment in file invalid-cd-21-01.xml
Based on this comment it seems that the cashSettlementTerms element should not exist at all in the invalid input. However, the rule states that the following elements must not exist (and not the whole cashSettlementTerms term):
cashSettlementTerms/settlementCurrency cashSettlementTerms/valuationDate cashSettlementTerms/valuationTime cashSettlementTerms/quotationMethod cashSettlementTerms/quotationAmount cashSettlementTerms/minimumQuotationAmount cashSettlementTerms/dealer cashSettlementTerms/cashSettlementBusinessDays cashSettlementTerms/accruedInterest cashSettlementTerms/valuationMethod
The cashSettlementTerms in file invalid-cd-21-01.xml is empty and therefore does not contain the afore-mentioned elements. So, the file should be valid according to rule cd-21.
You can also find file invalid-cd-21-01.xml attached to the current issue I am posting.
Notes:
andrew
11/02/12 10:54 am
The rules was changed in FpML 5.0 and now references specific elements rather than the cashSettlementTerms structure as a whole. A new set of test cases are needed for FpML 5.*
The attached file contains new test cases created for release 1.7 of the HandCoded toolkit which correctly detects the errors.
andrew
11/02/12 10:56 am
Add provided test cases to FpML repository then test and close the issue.
mgratacos
04/30/19 11:14 am
Assigned to me.
rabad
05/03/19 10:04 am
Solved issue for invalid-cd-21-01.
Changes:
added /dataDocument/trade[1]/creditDefaultSwap[1]/feeLeg[1]/periodicPayment[1]/fixedAmountCalculation[1]/dayCountFraction[1] = ‘ACT/360’
changed /dataDocument/trade[1]/creditDefaultSwap[1]/generalTerms[1]/buyerPartyReference[1]/@href from “party2” to “party1”
First addition to have an invalid field to trigger rule cd-21.
Second change to not trigger rules which indicates that buyer and seller must point out to different parties.
mgratacos
05/15/19 5:19 am
This will be available in the next release of 5.11.