2009 5 14. fpml 4.xfpml 5 10 message types: contractcreated contractcancelled contractincreased...
TRANSCRIPT
2009 年 5 月 14 日暗怒竜
FpML 4.x FpML 5
10 message types:◦ ContractCreated◦ ContractCancelled◦ ContractIncreased◦ ContractIncreasedCancelled◦ ContractPartialTermination◦ ContractPartialTerminationCancelled◦ ContractFullTermination◦ ContractFullTerminationCancelled◦ ContractNovated◦ ContractNovatedCancelled
New messages proposed for:◦ Amendments◦ Non-negotiated changes
Full terminations not used by CUG
Based on ‘Contract’ payload
Messages proposed for each of the same operations◦ Except full and partial
terminations combined into one message
Includes amendments and non-negotiated changes
Based on ‘Trade’ payload◦ Consistent with other
business process (i.e. Confirmation)
FpML 4.x FpML 5
‘conversationId’ convention used to relate messages
Sequencing derived from contract identifier versions
Explicit ‘correlationId’ element used to relate messages◦ Could be populated with
value currently in the ‘conversationId’
Explicit ‘sequenceNo’ element◦ Could be populated from
identifier version number
FpML 4.x FpML 5
Corrections handled by resending same message type with later version
Every message type has a ‘cancel’ message to retract◦ Naming of
ContractCreated and ContractCancelled inconsistent with other messages
Corrections use same message type as original but later sequence number◦ isCorrection element
indicates a correction Every operation has a
consistently named retraction message
All the features of contract can be mapped to trade◦ See paper for details
Contract Notifications have no response messages◦ Can’t indicate success or failure◦ SWIFT network can only provide delivery receipt
New messages have both negative and positive responses◦ Could be omitted by implementers if necessary