The CDM is a model for financial products, trades in those products, and the lifecycle events of those trades. It is an open source standard that aligns data, systems and processes and is available as code in multiple languages for easy implementation across technologies.
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Modification to CDM product ingestion condition #2998
CDM Product template contains few product validation conditions which are used to validate the completeness of product samples. These conditions are used to inform the digitiser to add the required details in the sample.
However, there’s a condition FpML_cd_30 where the clauses are incomplete.
Proposal
Modification of FpML_cd_30 and addition of adjustedDate check in the clause.
The following condition to be added:
or payout -> interestRatePayout -> paymentDates -> lastRegularPaymentDate all < terminationDate -> adjustableDate -> adjustedDate
Rationale:
In the similar conditions for FpML_cd_26_28 and FpML_cd_28, the adjusted date check is already present along with unadjustedDate.
Only FpML_cd_30 is the condition where adjustedDate is omitted.
Background
CDM Product template contains few product validation conditions which are used to validate the completeness of product samples. These conditions are used to inform the digitiser to add the required details in the sample.
However, there’s a condition
FpML_cd_30where the clauses are incomplete.Proposal
Modification of
FpML_cd_30and addition ofadjustedDatecheck in the clause. The following condition to be added:or payout -> interestRatePayout -> paymentDates -> lastRegularPaymentDate all < terminationDate -> adjustableDate -> adjustedDateRationale: In the similar conditions for
FpML_cd_26_28andFpML_cd_28, theadjusteddate check is already present along withunadjustedDate. OnlyFpML_cd_30is the condition whereadjustedDateis omitted.Compatibility
No complatibility issue is expected.