Date

18 Sep 2018

Attendees

Agenda

1) Use Case reminder

2) Where we are on our road map.

3) Open Action Items

4) JIRA Issues Review - https://jira.edmcouncil.org/projects/DER/issues/DER-10?filter=allopenissues

5) Todays content discussion.

JN sends a spreadsheet of CFTC work on Collateral Terms. EK FIBO has not modeled much in collaterization.

MA to JN Some fields are not in the Federal Register. JN Working to get this voluntary now. Will be added to the FedReg.

DN The spreadsheet has nomenclature specific to CFTC? Product types and some abbreviations. JN This is a draft. FWD means forward.

MA How do these compare with what EK was mapping. DN These are commodity swaps. ED did IRS.

TC How is it decided what is leg 1 and leg 2? Is there a difference. JN No. Max The fixed is where there is more money. DN This is good, it gives us something concrete to work on,

MA TEHRE ARE 4 THINGS GOING ON UNDER REG REPORTING Modernization. GSIBS in Europe. ISDA on CDM. FCA RegTec for machine executable reporting. LabCFTC call for input. MA is suggesting IRS as a common use case. Then could show a supply chain flow from collection to reporting to analytics. Looking at EMIR and Part 45 Reporting requirements. Can we align the regulatory rules and then map to FIBO. Also have an expert from Columbia U looking at this. Would like to align and map by working with all of these people. Could also bring in ISDA and FIBO experts to then have a single demo for the industry. JN Sounds spot on.

DN Need more IRS work to fully map to ISDA and the other groups. Need a cross section of SMEs to fully do a deep down strong vertical probe into a particular domain, i.e. IRS. The spreadsheet on commodites is a welcome addition. Is there something similar on IRS?

MA there are new initial margin requirements rules from CFTC. They have asset types, pricing, exposure, liquidity.

ACTION: MA will send JN the paper and JN will look at it.

DN to EK Have u been working on the JIRAs. No, working on Q3 deliverables. Will have something Oct 9th.

MA will have work done to be discussed on Oct 2nd.

DER-41 EK will get to on her own, also DER-49.

DER-55 EK needs to be assigned to Pete.

DER-13 EK needs help on this and other newer JIRAs.

EK has a call on Oct 19 with TC that should fill in some gaps.

EK has loaded all FPML Business Centers. It is automated so will be updated every time FPML is updated. Uses PR script. Not in Jenkins. Pete runs. OMG publishes the script. Pete does LCC script refining. EK need a subscription to the standard to run. Needs to be vetted. Lot of steps.

EK demonstrates how the MIC code adds to FIBO are being done. PR sends EK an initial group and then she reviews and answers PR questions and makes manual overrides. EK is PR QA person. Every time there are new things that must be reviewed. Can't generate some relationships. Must be manual. NYSE ownership on line not correct. Had to be determined manually.

DN We should have some editorial note on much of this saying that it may not be current. Need an use at risk statement. MA LEIs wrong? EK Yes! DN We need a legal disclaimer.

Max There is a structure for codes and identifiers that is generic. FIBO should use it. The info such as LEI is advisory. It can't be maintained current. EK Yes, we say this is what was published but this org at this date. Max trying to be perfect is a chasing your tail exercise. MA We just need to say who is responsible for the content. EK We do.

EK FIBO does LCC and MIC. MA how do we have exchange info? EK in the MIC. EK shows the most current disclaimer. MA is happy with it. EK Business Centers trivial, not MIC. Need to automate then QA and adjust. Intent is to be published in Sept 30 FIBO release.

EK examples will be hand crafted and explained as such. Has done for Chi Board Options Exchange and others by hand. Only good as of that date.

There will be a giant pull request soon on the MICs being worked by Pete and Elisa.

Date for Lab CCTC depends on having a working demonstration. Perhaps this can come out of the Chi training material.

6) For next week.

Proceedings:

Decisions:

Action items

Michael Atkin send JN new initial margin requirements rules from CFTC. John Nowlin will look at it.
John Nowlin Will send DN a similar IRS spreadsheet.
Elisa Kendall Fill in some DER gaps with Anthony Coates.
Dennis Wisnosky Make an FPT agenda item discussion on how to automatically use Pete Rivett script for LCC.
Elisa Kendall Send to Michael Atkin the disclaimer words that we use now.

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