eteridvalishvili commented 1 year ago

CDM Collateral Working Group Minutes

Date

April 25th, 2023 - 10 am ET / 3 pm GMT

Meeting notices

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Agenda

[ ] Convene & roll call (5mins)
[ ] Display FINOS Antitrust Policy summary slide
[ ] Review Meeting Notices (see above)
[ ] Approve past meeting minutes
- [x] https://github.com/finos/common-domain-model/issues/2055
[ ] Join us for our first FINOS in-person Hackathon at the BMO (Bank of Montreal) offices in New York City. Sign up here. Explore the use cases here and if you have some you’d like to share, contact our CTO Maurizio Pillitu.
[ ] Register for our first member meeting hosted at J.P. Morgan Chase - Embankment, London on June 14th - 15th. We’ll also have some public events! Read more below. Do you have a real world example of a FINOS project that you could demo? Showcase it at the member meeting as part of our project expo. Reach out to marketing@finos.org or eteri.dvalishvili@finos.org.
[ ] CDM Collateral Working Group Meeting Slides 25th April 2023 ISDA Common Domain Model - Collateral WG 25th April 2023.pdf
[ ] 1. CDM Collateral Working Group - Upcoming book of work / Update of new WG ToR ISDA CDM Collateral WG Terms of Reference- Version 8 - April 2023 DRAFT.docx
[ ] 2. Cash Collateral Interest Contribution Update and Next Steps
[ ] 3. SFTR Collateral Transfer Methods
[ ] 4. Collateral Provisions - Data Type Review
[ ] 5. Eligible Collateral Updates
- Eligible Collateral – Change of data type name/label contributed
- Next Steps re open-source access to CDM object builder.
[ ] 6. CDM Collateral - Get started guide
[ ] AOB, Q&A & Adjourn (5mins)

Decisions Made

Action Items

Action 1 Requirement to establish a means of monitoring the working groups book of work (milestones sections of the draft TOR) on a regular basis. But to also maintain a static ‘Terms of Reference Document’ (TOR) and working group governance structure. Members discussed these could be separated. Finos and the trade associations will review and confirm in due course. ISDA will work with FINOS, ISLA and ICMA to establish the new working groups TOR and a means of separately reviewing the book of work. Some of the content will remain, additional scope and content to be added.

Action 2 As referenced in agenda item No 2 - Cash Collateral Interest Contribution Update and Next Steps. This work related to the parameters needed to calculate and process cash collateral interest initially developed for the ISDA CSA is pending contribution to the CDM. After analysis to ensure compatibility going forward and reusability of existing data components related to interest rate products. ISDA will co-ordinate the refactoring of the floating rate specification for the commonality between collateral interest calculation standard interest rate product. Once completed this will be shared with the working group for full review.

Action 3 As referenced in agenda item 3 ‘SFTR Transfer Methods’, ICMA will raise an issue for members to discuss the further various options for representing collateral transfer methods under the various collateral agreements and trade use cases.

Action 4 As referenced in agenda item 3 ‘Collateral Provisions Data Type’, ICMA have sent a pull request https://github.com/finos/common-domain-model/pull/2084 to make the cardinality optional for the SFT specific options. Members agreed this may need further review if to be used as a marker specific structure, as further refactoring may be required.

Action 5 As per agenda item 5, second point. ISDA will give the working group an update related to the open sourcing of the CDM Object Builder when more news becomes available.

Action 6 As per agenda item 6, The trade associations will start to develop a CDM Collateral get started guide and share progress with members in due course.