finos · regnosys-prod-user · May 6, 2025 · May 9, 2025 · May 9, 2025 · May 9, 2025
@@ -1,90 +1,18 @@
 
-# _Legal Agreement Model - Skeleton framework for Trade Association Agreements_
+# _Collateral Model - Concentration Limit Update_
 
 _Background_
 
-While the CDM is leading the path in developing a universal language to discuss legal agreements, a hurdle to overcome is that the legal agreements themselves are written inherently differently. While there is overlap, there is not enough overlap to allow for e.g. an ISDA Master Agreement to be represented easily and readily by the CDM.
+A concentration limit is a type of collateral treatment defining concentration limits that may be applicable to eligible collateral criteria.
 
-_What is being released?_
-
-As per GitHub Issue [3206](https://github.com/finos/common-domain-model/issues/3206), step one is being implemented in this contribution. This entails adding the MasterAgreementBase to the master namespace type which is then extended for MasterAgreement, GlobalMasterRepoAgreement, and GlobalMasterSecuritiesLendingAgreement, respectively. These are all currently empty and will be populated in future releases.
-
-The MasterAgreementSchedule is unaltered for the time being to ensure backward-compatibility with the production release, but will become deprecated in the future.
-
-_Review Directions_
-
-Changes can be reviewed in PR: [3629](https://github.com/finos/common-domain-model/pull/3629)
-
-# *Add CSA components from ISDA Foundations to CDM - Added enum, func, and types to legaldocumentation.csa namespace*
-
-_Background_
-
-The ISDA Foundations project is a model extension built on top of the CDM that contains legal IP (contained in legal documentation references) only available to ISDA members. Additions or updates to the ISDA Foundations project can cause it to go out of sync with the CDM.
+`ConcentrationLimitCriteria` is an attribute within `ConcentrationLimit` used to specify the criteria to which the limits apply. Within `ConcentrationLimitCriteria`, there is a condition which forces the user to select only one `ConcentrationLimitCriteria`.
 
-Any “hard-coded” legal provision are removed from the model description
-
-All ISDA legal IP has been scrubbed from components and hidden behind a docReference tag, with the path to legal definitions & descriptions clearly identified and listed.
+However, because `ConcentrationLimitCriteria` extends `CollateralCriteriaBase` (where `collateralCriteria` is already a mandatory field), the condition always sets `collateralCriteria` as the `ConcentrationLimitTypeChoice`. Therefore, it is not possible to set `concentrationLimitType` or `averageTradingVolume`.
 
 _What is being released?_
 
-A CDM user has access to all the components that were previously in ISDA Foundations
-
-Added CSA components & namespaces to legaldocumentation
-
-- isda.legaldocumentation.csa.enum
-- isda.legaldocumentation.csa.func
-- isda.legaldocumentation.csa.type
-
-- These will have minimal impact as only the csa.type namespace currently exists in CDM, and consists of 3 empty types.
-
-_Review Directions_
-
-The change can be reviewed in PR: [3627](https://github.com/finos/common-domain-model/pull/3627)
-
-# _Legal Documentation - Migrating transaction additionalTerms components from ISDA Foundations project to the CDM_
-
-_Background_
-
-The ISDA Foundations project is a model extension built on top of the CDM that contains legal IP (contained in legal documentation references) only available to ISDA members. Additions or updates to the ISDA Foundations project can cause it to go out of sync with the CDM.
-
-All ISDA legal IP has been scrubbed from components and hidden behind a docReference tag, with the path to legal definitions & descriptions clearly identified and listed.
-
-_What is being released?_
-
-Migration of transaction additional terms components & namespaces next
-
-The following namespaces are added to / modified with additional components in CDM
-
-1. isda.legaldocumentation.transaction.additionalterms.enum
-2. isda.legaldocumentation.transaction.additionalterms.type
-
-The following types along with the components that roll up to them are added
-
-- FxAdditionalTerms
-- Representations
-- IndexAdjustmentEvents
-- DeterminationRolesAndTerms
-- EquityCorporateEvents
-
-_Review Directions_
-
-The changes can be reviewed in PR: [3628](https://github.com/finos/common-domain-model/pull/3628)
-
-# _Infrastructure - Dependency Update_
-
-_What is being released?_
-
-This release updates the `DSL` dependency.
-
-Version updates include:
-- `DSL` 9.45.3 Fixed highlighting for labels. Fixed generated object processor paths for address and location, see DSL release notes: [DSL 9.45.3](https://github.com/finos/rune-dsl/releases/tag/9.45.3)
-- `DSL` 9.46.0 Contains a work-around to handle the issue where the generated code order causes generation to fail with referencing errors, see DSL release notes: [DSL 9.46.0](https://github.com/finos/rune-dsl/releases/tag/9.45.3)
-- `DSL` 9.47.0 Added annotation to mark static code that is implemented in the model, see DSL release notes: [DSL 9.47.0](https://github.com/finos/rune-dsl/releases/tag/9.45.3)
-
-The changes in this release contain a number of functions in the model now annotated with the `codeImplementation` annotation. This marks that the function has been implemented statically in the model, for example by a Java implementation that exists in the model.
-
-The number of FIS successful mappings has increased due to the processor fix in version 9.45.3 mentioned above.
+The update in this release allows users to set different types of concentration limits by relaxing cardinality on `collateralCritera` in `CollateralCriteriaBase` to (0..1). An `override` is added to the `collateralCriteria` attribute in `EligibleCollateralCriteria` to enforce the mandatory addition of a `collateralCriteria` to an eligible collateral schedule.
 
 _Review Directions_
 
-The changes can be reviewed in PR: [#3631](https://github.com/finos/common-domain-model/pull/3631) 
+Changes can be reviewed in PR: [3690](https://github.com/finos/common-domain-model/pull/3690)
@@ -103,13 +103,14 @@ type EligibleCollateralSpecification: <"Represents a set of criteria used to spe
 
 type CollateralCriteriaBase: <"Represents a set of criteria used to specify and describe collateral.">
 
-    collateralCriteria CollateralCriteria (1..1) <"The specific criteria that applies. It can be created using AND, OR and NOT logic, and both asset and issuer characteristics.">
+    collateralCriteria CollateralCriteria (0..1) <"The specific criteria that applies. It can be created using AND, OR and NOT logic, and both asset and issuer characteristics.">
     appliesTo CounterpartyRoleEnum (0..2) <"Specifies which of the two counterparties the criteria applies to (either one or both counterparties). This attribute is optional, in case the applicable party is already specified elsewhere within a party election.">
     restrictTo CollateralMarginTypeEnum (0..1) <"Restrict the criteria to only apply to a specific type of margin, ie IM or VM.">
     ratingPriorityResolution RatingPriorityResolutionEnum (0..1) <"Denotes which Criteria has priority if more than one agency rating applies.">
 
-type EligibleCollateralCriteria extends CollateralCriteriaBase: <"Represents a set of criteria used to specify eligible collateral.">
 
+type EligibleCollateralCriteria extends CollateralCriteriaBase: <"Represents a set of criteria used to specify eligible collateral.">
+    override collateralCriteria CollateralCriteria (1..1) <"The specific criteria in an Eligible Collateral Schedule. This is a mandatory attribute of an ECS so an override is required to enforce the cardinality.">
     treatment CollateralTreatment (1..1) <"Identifies the treatment of specified collateral, e.g., haircuts,holding limits or exclusions.">
 
     condition ConcentrationLimitTypeIssueOSAmountDebtOnly: <"Specifies a condition that concentration limit type 'IssueOutstandingAmount' is restricted to be used only if the asset type is described as 'Security' and 'Debt'.">