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- Showed our current set of economic indicators and how we have defined them - he thought the level of detail for what SS needs is sufficient - primary indicators he has seen in derivatives include CPI and inflation, but he said that they rarely see exotic instruments and so he doesn't really know. What they need would be to support representation of the underlying reference (security, index) sufficient to address some of the recent discussions by the FSB with respect to development of UPIs. He will go back and look at requirements for us with respect to what questions they would want to be able to ask about these kinds of indices, to make sure that we can answer those questions.
- With respect to Financial and Credit indices - these are a problem due to IP issues with the various publishers of such indexes. Credit indices are particularly thorny - they are owned by Markit Partners - they have devised what they call a red code, which CUSIP actually produces, which are 9 digit codes for credit indices, but they make money on them, and so won't release them, and we can't include them due to these IP issues. Same is true for the Goldman Sacks commodity indices.
- He will attempt to get a list of the primary financial indices they need, especially any that are publicly available.
- With respect to the reference interest rates (FpML), it would be useful to be able to ask questions of their instrument KB to say which contracts are dependent on indices based on what currencies, or tenor, or based on what other rates such as LIBOR, etc., meaning, to include properties as well as interject some additional hierarchy. He will go back to someone at ISDA and ask why they've included the publishers in some of the rates, since the values for a given rate should be the same regardless of where people retrieved them from.
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