Imported from previous forum
The Global Technical Committee has reviewed and preliminarily approved the GFIC LegSecurityXML Proposal. This proposal was submitted by the Global Fixed Income Committee as part of the industry initiative to establish best practices for using FIX to support electronic trading of CDS/IRS products. From the efforts to document best practices for using FIX, gaps would found in the protocol and enhancements were needed to better support CDS/IRS products via FIX. This proposal is added two new components, LegSecurityXML and UnderlyingSecurityXML to the LegInstrument and UnderlyingInstrument component blocks to allow for uniform ability to express leg and underlying instrument definitions using an XML based payload (e.g. using FpML to express specific CDS/IRS characteristics).
The document now enters a public comment period in which public review and feedback is encouraged. Once the public comment period closes, the Global Technical Governance Board will meet to review public comments before final approval.
Please post feedback, comments, and questions as replies to this discussion thread.
A link to the proposal can be found at:
http://www.fixprotocol.org/documents/6321/GFIC%20LegSecurityXML%20Proposal%20Rev.0.3.docx
The public comment period ends on January 6, 2012.