1) Use Case reminder
2) Where we are on our road map.
3) Open Action Items
4) JIRA Issues Review - https://jira.edmcouncil.org/projects/SEC/issues/SEC-7?filter=allopenissues
5) Todays content discussion.
6) For next week.
Updated slides from EK - for meeting support (see attached, below)
No call on 1/21 for MLK holiday
Close out Gareth open issue (will be expanding the participation across the membership to ensure broader engagement (including regulators)
Ratings - phase two discussion is scheduled for 1/23
FBC - Currently 16 open issues in JIRA
FBC-210 (MIC/Exchange) - PR to manage URI issue (where MIC matches the exchange name) - PR recommends a prefix based on URI not name (name is not unique, but URI is unique)
FBC (naming) strategy for exchange naming for generated exchanges from the ISO MIC source and mapping to classes is onward discussion but please adjust to have MIC-code
FBC-210 - need policy for MIC (to be developed) - still an open JIRA. Current approach has issues due to the codes and exchanges that have an initial numeral, such as '360T'. STRATAEGY is needed. PR wants to expedite. Recommends "Market-" in front of exchange as the solution
The new policy is "Market-" for exchange URIs and MIC- for the MIC codes themselves. Assigned to PR.
EK bug fixes (FBC-196 validation level, FBC-211, FBC-208) can do by herself
FBC-211 (new ratings ontology in FND, credit ratings in FBC for discussion)
Moving on to SEC (11 open issues in JIRA and 15 open action items)
Road map underway for market data; EK moved corporate credit events to FBC, MA located and posted multiple listings examples,
Actions (under exchange) - verify definitions for market segment level, multilateral trading facility, operating level exchange, organized trading facility, regulated market, systematic internalizer platform) - these all exist and definitions need review. Do we need notional financial marketplace and securities exchange?
EK to send classes of exchange to MA for verification and definition
Review of "Notional financial marketplace" (does this exist) and generic securities exchange - do these exist and is generic securities exchange redundant with "exchange"
Repos - EK to send MA the definition and explanatory notes on repurchase agreements. MA to investigate - definition and potential subclasses. Are there any other restrictions to be added
Share registry - need definition (Max Gillmore volunteered but has not occurred)
Exercise conventions have been revised (SEC-76) - done pull request. Ready for RELEASE status. Needed for bonds and options (that's why part of SEC). Three children (American, Bermudian with Canary Islands, and European convention)
PR - considers this is an individual of class "convention" - if this is about date than in the wrong spot. The class needs a clearer name because it includes the convention as well as the date. [style of instrument vs. dates] - need bond and option expert to review the important components about American, Bermudian and European conventions for bonds and options
Solution - implement EK proposal for Exercise Convention and add the word "dates" and "date" for European
Next JIRA (SEC-69) - need SME input on commercial paper (in US there is only one type of commercial paper which is always discounted). Currently the subclasses are "discounted" and "interest bearing" - are these valid subclasses. Does an "interest bearing" commercial paper type exist. If it is always discounted without an interest ratae then no need for "interest bearing"
The goal is to eliminate any open SEC issues so that we can devote full attention to bonds
Bill of Exchange - need verification of definition and need to model sub-classes. Need explicit properties of payee and payer (more than one of each). Can there only be one drawee, SME on bill of exchange needed to verify
Slides from today's meeting: