CDM Derivatives Working Group - March 26th, 2025

[eteridvalishvili]

CDM Derivatives Working Group

Meeting Host: Lyteck Lynhiavu, ISDA

March 26th, 2025 - 11:30 am EST / 3:30 pm GMT

Untracked attendees

• Fullname, Affiliation, (optional) GitHub username

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Agenda

• Convene & roll call (5mins)
• Display FINOS Antitrust Policy summary slide
• Review Meeting Notices (see above)
• Approve Past Meeting Minutes
  • CDM Derivatives Working Group - March 12th, 2025 #3487
• Fragmos / JB's list of proposals CDM_Roadmap 2025_ Fragmos & JPM _ Short Version.xlsx
• Derivatives Kanban Board (BoW) CDM Derivatives WG
• AOB, Q&A & Adjourn (5mins)

Minutes

• Past Meeting Minutes approved - with comment that FRAGMOS - enrichment of CorporateAction #3237 has an associated PR that is moving forward. The group also discussed FRAGMOS - Rate Matrix mentioned in ISDA 2021 Def is missing in MatrixTypeEnum #3186 where JB added the requested rationale. There are more matrices in the 2021 Definitions than the mark-to-market matrix, floating rate matrix listed in the issue. (action: JB + Lyteck) to finalize the list. Lyteck provided a the list of all documents in the 2021 Definitions:
  
• Fragmos list of proposals - JB presented a new version of the spreadsheet including additional input from JPMorgan / Lathaam. The WG would like to see more information so it can weigh in on which items to prioritize / tackle next
  • add a business rationale to each item (useful to understand the criticality and prioritize the BOW. The audience reading the spreadsheet is not necessarily familiar. (action: JB + Lathaam)
  • add a "complexity" label (on a 1-2-3 scale) (as suggested in Feb 12 meeting) so we can weigh priority vs complexity vs available resources
  • add back the "Assigned WG" that was in the first version of the spreadsheet (suggestion from Lyteck post-meeting)
• Derivatives Kanban Board (BoW) discussed items:
  • Modifications to CDM5 Product Qualification Functions #3544 Vineet presented. This is another iteration with refinements. target version 5.23. Issues 1-4 approved. issue 5 needs more work (not approved).
  • Double qualification issue Commodity product qualification functions #3579 (bug) Vineet presented. approved. proceed to PR. to do: specify target version.
  • Averaging Features Representation #2994 Georgina reported no update this week
  • Condition OrdinalExists is not formulated correctly #2479 approved. no objections.
• AOB - None

Action Items

• 3186 have an action to finalize the codes in the MatrixTypeEnum (JB + Lyteck)
• refine the list of Fragmos proposals (JB + Lathaam)
• 3544 issue 5 (activity date in Create_TradeState) needs more work (Vineet)

Zoom info

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[lolabeis]

Leo Labeis / REGnosys

[lagarciath]

Laura Garcia / TH

[dschwartznyc]

Daniel Schwartz/FT Advisory