CDM Collateral Working Group - March 25th, 2025

[eteridvalishvili]

CDM Collateral Working Group Minutes

Meeting Host: Vernon Alden Smith, ISDA

March 25th, 2025 - 10 am EST / 2 pm GMT

Untracked attendees

Meeting notices

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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 Collateral Working Group - January 28th, 2025 #3311
• Meeting Slides 25th March 2025
  ISDA Common Domain Model - Collateral WG 25th March 2025.pdf
• AGENDA 1 - CDM Tokenisation Model – Tokenovate
• AGENDA 2 - Status update - ISLA Eligible Collateral contributions to CDM
• AGENDA 3 - AND/OR eligibility in the CDM – Finalisation of material update
• AGENDA 4 - ISDA Foundations migration update and overview
• AOB, Q&A & Adjourn (5mins)

Minutes- @eteridvalishvili

• ISDA Foundations migration update and overview Project to migrate ISDA Foundations data into CDM core. The goal is to consolidate the data and improve accessibility. Currently in Phase 3 scrubbing the ISDA Foundations project of any legal intellectual property (IP) that should not be accessible to non-ISDA members. The upcoming Phase 4 will be the actual migration phase, where the data will be moved to CDM.

• CDM Tokenisation Model Tokenovate presented an overview of the WG focused on extending the CDM to support tokenized assets. Reviewed challenges, types of tokenization structures, and proposed approach to modeling tokenized assets and settlement within the CDM.

• Status update - ISLA Eligible Collateral contributions to CDM The contribution is progressing, with some changes suggested, but is taking longer than anticipated. There is an ongoing request for members to provide examples of varied complexity of eligible collateral schedules.

Meeting Summary & Actions-

• ACTION 1 Working group members please share lists of what you currently support in your systems for referencing market indexes. It has been raised it would be useful to add to the CDM eligible collateral specification the ability to define equity market indexes from an enumeration list (eg FTSE 100)
  Please send to both valdensmith@isda.org and Chris.Rayner@islaemea.org
• ACTION 2 As discussed in agenda item No 3 - Working group members please share various types of Eligible Collateral Schedules (ESC) examples you would like to see supported in the CDM. We would like to build up a library of different examples to be shared with members via various channels to validate the use case and provide implementers with sufficient test data to confirm mappings.
  Please send to both valdensmith@isda.org and Chris.Rayner@islaemea.org
• ACTION 3 CDM Tokenized Assets WG – Following the overview given by Ciaran McGonagle related to the work taking place within the new Finos CDM Tokenized Assets WG. If interested please join this working group using the following link to the meeting calendar on the Finos site https://www.finos.org/calendar. If you require further information related to this group please contact mailto:ciaran.mcgonagle@tokenovate.com

Zoom info

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[valdensmith]

Vernon Alden-Smith - ISDA

[CiaranMcGonagleTokenovate]

Ciarán McGonagle - Tokenovate

[chrisisla]

Chris / ISLA

[eteridvalishvili]

Eteri / FINOS

[CrisSearle]

Cris Searle / Clearstream

[paulpkelly]

Paul Kelly / Logical Construct

[dharm-kapadia]

Dharm Kapadia / EquiLend

[adamulman]

Adam Ulman / SmartStream

[Oscar-Twomey]

Oscar Twomey / REGnosys

[MarkNew-ISDA]

Mark New / ISDA

[RichardRChang]

Richard Chang / Bloomberg

[dshoneisda]

David Shone /ISDA

[MalwinaAzemi]

Malwina Wasowska-Azemi / CloudMargin

[acrangle-murex]

Aidan Crangle - Murex

[LionelSG-REGnosys]

Lionel Smith-Gordon / REGnosys

[joeymann-lz]

Joey Mann - Likezero

[Milage]

Robert Miles - GLMX

[JasonAng88]

Jason Ang - SmartStream