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FpML ingest

DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. ingests data that has been transformed into the CDMCDM Common Domain Model. A standardised, machine-readable and machine-executable blueprint for how financial products are traded and managed across the transaction lifecycle. It is represented as a domain model and distributed in open source.. However, it can also directly ingest raw data from FpMLFpML Financial Products Markup Language, the shared language used by many banks, trading platforms and other financial institutions to describe complex trades.

FpMLFpML Financial Products Markup Language messages supported for ingestion to CDMCDM Common Domain Model. A standardised, machine-readable and machine-executable blueprint for how financial products are traded and managed across the transaction lifecycle. It is represented as a domain model and distributed in open source. and DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data.:

  • FpML Confirmation To TradeState – ingests a FpMLFpML Financial Products Markup Language messgae to produce a TradeSate (CDMCDM Common Domain Model. A standardised, machine-readable and machine-executable blueprint for how financial products are traded and managed across the transaction lifecycle. It is represented as a domain model and distributed in open source. object)
  • FpML Confirmation To WorkflowStep – ingests a FpMLFpML Financial Products Markup Language message to produce a WorkflowStep (CDMCDM Common Domain Model. A standardised, machine-readable and machine-executable blueprint for how financial products are traded and managed across the transaction lifecycle. It is represented as a domain model and distributed in open source. object)
  • FpML RecordKeeping To ReportableEvent – ingests a FpMLFpML Financial Products Markup Language message to produce a ReportableEvent (DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. object)

TradeState​

A TradeState is a pure representation of the trade itself. It only contains the details of the trade, without any information about how the trade came into existence or changed. Think of TradeState as a snapshot of the trade at a specific point in time.

It contains:

  • Economic terms (e.g. notional, rate, dates, counterparties)
  • No business event context
  • No regulatory information

WorkflowStep​

A workflowStep contains information about the business event for that trade, including:

  • Trade information or tradeState
  • Business event information (what is happening to the trade)

Proposed event​

At ingestion, the WorkflowStep details:

  • The ProposedEvent (the proposed Buisness Event)
  • The before TradeState
  • The PrimitiveInstruction (the instruction to be applied to the before TradeState, a QuantityChange for example)

Example: Ingest output (proposed event)

  • Before: trade notional = 1,000,000
  • Instruction: quantityChange decrease of 500,000
  • After: not yet calculated

Proposed event = before TradeState + instruction

Business event​

When data has been ingested to a WorkflowStep, functions in the CDMCDM Common Domain Model. A standardised, machine-readable and machine-executable blueprint for how financial products are traded and managed across the transaction lifecycle. It is represented as a domain model and distributed in open source. use the PrimitiveInstuction and the before TradeState to generate an after TradeState. Therefore what was once a proposed event, is transformed to a business event. The resulting, fully realised business event is reflected in DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. reports input within the WorkflowStep.

Post ingestion, the WorkflowStep therefore details:

  • The BusinessEvent
  • The before TradeState
  • The PrimitiveInstruction
  • The after TradeState

Example: Report input (business event)

  • Before: trade notional = 1,000,000
  • Instruction: quantityChange decrease of 500,000
  • After: trade notional = 500,000

Business event = before TradeState + instruction + after TradeState

ReportableEvent​

Ingestion of an FpMLFpML Financial Products Markup Language NonPublicExecutionReport message generates a ReportableEvent - a DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. object. This represents the trade as required for regulation. It contains:

  • Trade information or TradeState
  • Buisness event information
  • Regulatory reporting information