common-domain-model
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finos
Chris Rayner Product Model - Update Scheduled Transfer types
Product Model - Update Scheduled Transfer types
Background
In a securities lending trade, the lender will deliver the security being lent to the borrower. This is performed on a date agreed by the parties (i.e. it is scheduled) and forms part of the settlement obligations of the trade.
The actual transfer of the shares can be processed using the TransferInstruction primitive instruction. However, under the scheduledTransfer type there is a mandatory transferType attribute where the type of this scheduled transfer must be defined. This enum currently has no option that can be used to define the delivery of the security to the borrower.
What is being released?
The changes being contributed are as follows:
- Update the cdm.product.common.settlement.enum
ScheduledTransferEnum"PrincipalPayment` option to now be named "Principal".- This allows "Principal" to be used for any transfers related to the principal i.e. the cash paid as collateral or the securities being delivered.
- The
Assetitself within thetransferwill describe what is actually being transferred.
- Update the
Create_CashFlowFromSettlementPayoutfunction in cdm.product.template.func to use "Principal" instead of "PrincipalPayment" - Update the FpML mapping and ingest namespaces to use "Principal" instead of "PrincipalPayment" where appropriate
Review Directions
Changes can be reviewed in PR: #4203
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What is being released?
Updated the description for the "Principal" option to be more generic and not directly associated to cash flows.
[!NOTE] This comment was generated via Rosetta.
What is being released?
Update description of ScheduledTransferEnum to be more generic as it was previously tied to cash flows and OTC derivatives.
[!NOTE] This comment was generated via Rosetta.