CDM Derivatives Products and Business Events Working Group - November 6th, 2024

[eteridvalishvili]

CDM Derivatives Products and Business Events Working Group Minutes

Meeting Host: Lyteck Lynhiavu, ISDA

November 6th, 2024 - 11:30 am EST / 4:30 pm GMT

Untracked attendees

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Agenda

• Convene & roll call (5mins)
• Display FINOS Antitrust Policy summary slide
• Review Meeting Notices (see above)
• Approve Past Meeting Minutes
  • CDM Derivatives Products and Business Events Working Group - October 23rd, 2024 #3168
• FRAGMOS - ObservationTerms & ValuationTerms #3114
• FRAGMOS - FixingObservation Event #3059
• AOB, Q&A & Adjourn (5mins)

Minutes

• Previous minutes: No objections
• JB presented two proposals which require review and feedback from members
  • FRAGMOS - ObservationTerms & ValuationTerms #3114
  • FRAGMOS - FixingObservation Event #3059
  • The group discussed gaps in understanding including JPMorgan's attempt to clarify how to "roll back" after the cancellation of a change, how the decision was taken to remove any affirmation support, how best to use primitive instructions.
  • The group agreed that this is part of a list of multiple other PRs (See DPBE "laundry list" CDM Derivatives Products and Business Events Working Group - October 23rd, 2024 #3168)
• AOB: None

Action

• All to review JB proposals and provide feedback.

Zoom info

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[manel-martos]

Manuel Martos / TradeHeader

[dschwartznyc]

Dan Schwartz/FT Advisory

[tomhealey-icma]

Tom Healey/ICMA

[HajnalOB]

Hajnal/REGnosys

[d-sen-gupta]

Dhruva/JPMC

[nicholas-moger]

Nick Moger/JPMC

[JBZ-Fragmos]

@dshoneisda @llynhiavu

as agreed during the call, have updated below "wish list", target is Dev before major relase into Prod

some of the PRs are designed at the right "atomic" level so beleive there is a chance to get agreement for release before the next major release :

• CorporateActionEnrichment_FRAGMOS JEAN BAPTISTE ZIADE CorporateActionEnrichment_FRAGMOS #3220 : additional components, most of them being optional, to further detail the description of CorporateAction
• MetadataAddressForAllPayoutPrice JEAN BAPTISTE ZIADE MetadataAddressForAllPayoutPrice #3225
• removeAbusiveConditions-PerformancePayout JEAN BAPTISTE ZIADE removeAbusiveConditions-PerformancePayout #3040: very minor, almost "technical fix" in Fragmos view... (JPM has already agreed for this change... see 'Comment' history)
• Transfer_FRAGMOS JEAN BAPTISTE ZIADE Transfer_FRAGMOS #3234 : introduce clarification for Net/Gross, also permits to improve info involved in stand-alone transfer (distinguish deliverable Quantity being transferred with regards to notional Quantity and Price which may optionally enrich the documentation related to the transfer)

understand this is a big one bellow, but it may be broken down into smaller individual PR whenever there is interest to do it e.g. we could release the parts of it that refactor ObservationDates into ObservationTerms as separate PR, and/or if agreed to attach priceObservation (type PriceSchedule) to type Observable, just two examples mentioned,for sure there are a lot of other components we could merge separatly the "big" PR below - but we have to keep in mind that the proposal below makes sense at target as a whole that is mainly to push to more generic modelling, hence further leveraging PayoutBase for these terms :

• ObservationTerms_ValuationTerms_FRAGMOS JEAN BAPTISTE ZIADE ObservationTerms_ValuationTerms_FRAGMOS #3227

if any issue for accessing to PR or Issues, else to visualize graphical view of contributions, of course if any feedback, support, questions, suggestions, etc. please, @AnyBody, let me know