CDM Collateral Working Group - January 28th, 2025

[eteridvalishvili]

CDM Collateral Working Group Minutes

Meeting Host: Chris Rayner ISLA on behalf of Vernon Alden Smith, ISDA

January 28th, 2025 - 10 am EST / 3 pm GMT

Untracked attendees

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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 - November 26th, 2024 #3215
• Meeting slides 28th Jan 2025
  ISDA Common Domain Model - Collateral WG 28th January 2025.pdf
• AGENDA 1 AND/OR eligibility rules in the CDM – Contribution update and next steps
• AGENDA 2 Update on eligible collateral schedule proposals
• Equity Index representation
• Concentration limit types and requirements
• AGENDA 3 ISLA Eligible Collateral contributions to CDM
• New item in EquityTypeEnum for ConvertiblePreference
• New item in ConcentrationLimitTypeEnum for OutstandingBalance
• New type AssetLocation
• AGENDA 4 CDM Collateral start up guide workshop Mar 20/21st 2025
• AOB, Q&A & Adjourn (5mins)

Minutes- @eteridvalishvili

• And/Or Syntax Update @LionelSG-REGnosys:

  • Implemented and is now live in CDM v2.1.
  • Addresses the need for more complex logic combinations in eligible collateral criteria.
  • Reviewed the structure and usage of the new "choice" feature and the "all" and "any" operators for creating complex and/or logic.
  • The CDM documentation and object builder have been updated to reflect changes.
  • Everyone is encouraged to review it.

• ISLA Eligible Collateral contributions to CDM @chrisisla:

  • Update on the ISLA CDM working group's planned contribution for Q1.
  • Several gaps between existing schedules and the CDM were identified, with some already resolved.
  • Focused on the remaining gaps related to asset location and the need for a new "AssetLocation" type.
    • Discussion on using "domicile" instead, and how to best handle cases where assets are held by custodians.
    • The discussion also covered adding "outstanding balance" and "convertible preference security" to enumerated lists.

• CDM Collateral Workshop (New York) @chrisisla:

  • CDM Collateral Workshop to be held in New York on March 20th and 21st.
  • The workshop will cover CDM principles and Collateral use cases, including hands-on experience with the object builder.
  • Those interested should contact Vernon for registration as soon as possible, as space is limited.

Action Items

• @chrisisla:

  • Add outstanding balance and convertible preference security to the enumerated lists.
  • Look into AssetLocation and consider alternatives like domicile, along with exploring the use of and/or criteria.

• Everyone:

  • Provide lists of commonly used market indices.
  • Provide examples and descriptions of additional concentration limit types.

Meeting Summary & Actions-

Zoom info

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Meeting ID: 960 8428 4579
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[chrisisla]

Chris Rayner / ISLA

[adamulman]

Adam Ulman / SmartStream

[JamesStillwell]

James Stillwell / Pirum Systems

[CrisSearle]

Cris Searle / Clearstream

[acrangle-murex]

Aidan Crangle / Murex

[MalwinaAzemi]

Malwina Wasowska-Azemi/CloudMargin

[AmyCaruso]

Amy Caruso/ISDA