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ISDA EQD 2010 Implementation

ISDA EQD 2010 Implementation. Andrew Paul Parry Chair of ISDA/FpML EQD WG and FIX GDC. Strategy, Contents. Strategy A Consistent Framework, both for Legal Drafting, and Technical Implementation

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ISDA EQD 2010 Implementation

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  1. ISDA EQD 2010 Implementation Andrew Paul Parry Chair of ISDA/FpML EQD WG and FIX GDC

  2. Strategy, Contents • Strategy • A Consistent Framework, both for Legal Drafting, and Technical Implementation • Machine Readable Product Templates, both for what may change per Transaction, and what is defined for a Class of Transaction, supported by Reference Data • Meeting Regulatory Requirements for Product Simplification and Transparency • Providing Business Opportunities for our Membership through easier Automation • Proposal Concept • All Human Readable Softcopy has a Human and Machine Readable Equivalent • Implemented using a backwardly compatible extension to current FpML-4-8 • ISDA EQD 2010 Implementation • Transaction Supplement • Class Definition Matrix • Information Types and Reference Data • Next Steps • ISDA EQD 2010 Drafting Progress • FpML Implementation Timelines • Regulatory Timelines

  3. ISDA EQD 2010 Transaction Supplement, Softcopy Transaction Supplement to Equity Derivative Matrix, cannot be used alone Transaction Supplement allows the user to agree terms per Transaction

  4. ISDA EQD 2010 Transaction Supplement, Machine Readable Template Instance

  5. ISDA EQD 2010 Definition Matrix, Softcopy

  6. ISDA EQD 2010 Definition Matrix, Machine Readable Template Instance

  7. Information Types and Reference Data Both Transaction Supplement and Definition Matrix use ISDA/FpML Information Types and Reference Data

  8. Next Steps • ISDA EQD 2010 Drafting Progress • I have implemented using the Index Option implementation from Katherine Darras • Further softcopy implementation examples would be welcome • What is the planned Product Implementation order ? • FpML Implementation Timelines • Last Product using legacy Legal Drafting (EM Interdealer Option) is near completion • We will continue to be track new Legal Drafting, and provide good time to market • The Consistent Framework of ISDA EQD 2010 is good for implementation • Regulatory Timelines • All future EQD Products will be defined using ISDA EQD 2010 • What are the Regulatory Timelines ? • From the NY Fed, and other Regulators ?

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