Circular Letter No. 009/2008
To all participants of the FundsXML Standards Committee Bundesverband Investment
und Asset Management e.V.
Contact:
Dr. Carsten Lüders
Phone: +49.69.154090.224
Fax: +49.69.154090.124
carsten.lueders@bvi.de
Minutes of the meeting on September 24th of 2008 in Vienna October 5th, 2008
Dear colleagues,
Please find attached the minutes of the meeting of the Standards Committee
th
of September 24 of 2008, at VÖIG Vereinigung österreichischer
Investmentgesellschaften in Vienna
If you have any questions, please, do not hesitate to contact us.
Best regards
BVI Bundesverband Investment und Asset Management e.V.
signed Dr. Carsten Lüders signed Sarah Schnorr
Encl.
Minutes
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Page 2 of 13 to Circular letter no. 009/2008
Minutes
Of the Meeting of the FundsXML Standards Committee
On Wednesday, September 24th of 2008, VÖIG, Vienna
The Members of the Standards Committee deal with the Agenda in the
following order
1 Minutes of the last meeting
2 New applicants for membership in the FundsXML Standards
Committee
- IFR Federation of Danish Investment Associations
- DIAMS (France)
3 The Status of the next version of FundsXML
4 Organisation of the working process for the further development of
FundsXML
5 Charta of FundsXML
- Requests for changes
- Translation into English
6 Promotion of FundsXML as an industry standard
7 FundsXML Website
8 Miscellaneous
- EFAMA Data Dictionary Working Group
- Usage of FundsXML by the members of the Standards
Committee
- Other subjects
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Page 3 of 13 to Circular letter no. 009/2008
Meeting of the FundsXML Standards Committee
On Wednesday, September 24th of 2008, VÖIG, Vienna
Minutes to Topic 1:
Minutes of the last meeting
The FundsXML Standards Committee approves the minutes of the last
meeting.
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Page 4 of 13 to Circular letter no. 009/2008
Meeting of the FundsXML Standards Committee
On Wednesday, September 24th of 2008, VÖIG, Vienna I
Minutes to Topic 2
New applicants for membership in the FundsXML Standards Committee
a. IFR Federation of Danish Investment Association
The members of Standards Committee decide in unison to admit IFR
Federation of Danish Investment Association as a member of the FundsXML
Standards Committee.
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Page 5 of 13 to Circular letter no. 009/2008
Meeting of the FundsXML Standards Committee
On Wednesday, September 24th of 2008, VÖIG, Vienna I
Minutes to Topic 2
New applicants for membership in the FundsXML Standards Committee
b. DIAMS (France)
The Standards Committee discusses the Letter of Understanding with regard
to the Merger of DIAMS and FundsXML and decides on some changes.
- Bullet point 3
FundsXML should be copyrighted by BVI.
BVI is asked to check whether this is possible from a juridical point of
view
- Bullet point 6
Country specific elements should be added to the dictionary, if
appropriate
- Bullet point 11
DIAMS proposes to change his name into “FundsXML-France”. It has to
be checked whether this is possible taking into account that FundsXML is
copyrighted by BVI and there is no conflict with the copyright.
- The former Bullet points 12 and 13 were put together
The FundsXML Standards Committee will initiate apt measures and apt
bodies to promote FundsXML on national and international basis.
- A new Bullet point is addended
The FundsXML Standards Committee is the only body to decide, which
version is the relevant FundsXML version.
The revised version will be sent out by BVI.
Remark:
The revised version is sent out via email on 6. Oct. 2008 (Att. 1)
The FundsXML Standards Committee decides in unison to admit DIAMS
as member of the FundsXML Standards Committee subject to approval by
the board of DIAMS to become part of FundsXML.
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Merger of DIAMS and FundsXML
Letter of understanding
- The principle of a merger of the DIAMS and FundsXML initiatives is validated by the
parties. The goal is to have a common XML dictionary and a single website.
- Target date for effective merger is beginning of 2009.
- The unique brand will be FundsXML, which should be copyrighted by BVI (subject
to the condition of juridical review).
- Documentation, website & marketing of FundsXML going forward shall clarify that it
is supported by several associations, not only BVI.
- The common dictionary will be built from the FundsXML one. DIAMS will gradually
bring their data, especially message formats.
- Country specific elements will be addressed within a forum on the common website.
Gelöscht: will
If appropriate, such specific elements should be added to the dictionary.
- The common language of working will be English which will be also used for the
documentation of the common dictionary.
- One or two delegates from DIAMS will take part in the FundsXML Standards
Committee as soon as possible. François VAN RENTERGHEM will also participate in
the technical committee.
- BVI is willing to continue to host the website, and provide administrative service to
FundsXML committees and WGs, to the extent this will be required by FundsXML.
- Physical meetings of Committees and Working Groups should take place in turn in
the supporting countries as agreed by the members
- During the transition period DIAMS will maintain its current legal structure as an
association. The name will be changed into "FundsXML-France" (subject to the
condition of juridical review).
- The FundsXML Standards Committee will initiate apt measures and apt bodies to
Gelöscht: A FundsXML
promote FundsXML on national and international basis. promotion group will be created,
targeting at big Asset
- The FundsXML Standards Committee is the only body to decide, which version is Management companies, who
the relevant FundsXML version. are the most liable to provide
man-days to FundsXML.
Gelöscht: FundsXML will
consider to add a Marketing &
Promotion WG to help to
Made in XXXXX, XX October 2008 implement the agreed
communication objectives of the
initiative.
Gelöscht: september
DIAMS FundsXML
Page 6 of 13 to Circular letter no. 009/2008
Meeting of the FundsXML Standards Committee
On Wednesday, September 24th of 2008, VÖIG, Vienna I
Minutes to Topic 3
The Status of the next version of FundsXML
The Standards Committee decides to name the next version will be 3.0. This
makes it easier to differentiate between the actual 1.x version and the former
Austrian version which is called 2.x.
Carsten Lüders reports that there are some minor change requests as a result
of the comment phase. BVI is asked to integrate the change requests as far as
possible and to discuss within the working group the open points left. During
this discussion a final decision about missing data fields for integration of the
shadow accounting message should be taken. Taking into account the results
of the working group and subject to no further changes which are necessary to
be decided by the Standards Committee the Working Draft should be sent out
for last call.
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Page 7 of 13 to Circular letter no. 009/2008
Meeting of the FundsXML Standards Committee
On Wednesday, September 24th of 2008, VÖIG, Vienna I
Minutes to Topic 4
Organisation of the working process for the further development of FundsXML
Taking into account the experience with FundsXML and its implementation
in the Austrian investment fund community the Standards Committee
decides to give the working group the possibility to decide on changes
which have no impact on downward compatibility and does not imply
massive structural changes. In all those cases the Standards Committee
will be the only body to decide finally. The working group is ordered to
inform the Standards Committee about its decisions and changes of
FundsXML. This enables the working group to work more efficient by
solving problems and taking into account minor change requests with the
aim to optimize and to fasten the implementation of FundsXML.
The working group should meet once a month by telephone conference or
face to face meeting.
To get as much input as possible with regard to change requests a special
email address should be offered to the community like
change.request@fundsxml.org.
Information:
The setup of this email address will be checked by BVI’s IT and installed. Information will be
distributed to the FundsXML Community after installation.
The Standards Committee discusses also the question of its own further
work. The members agree to enable members in case of absence from a
meeting to mandate another member to enable the Standards Committee
to be capable of making decisions.
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Page 8 of 13 to Circular letter no. 009/2008
Meeting of the FundsXML Standards Committee
On Wednesday, September 24th of 2008, VÖIG, Vienna I
Minutes to Topic 5
Charta of FundsXML
The Standards Committee decides to translate the actual Charta into English.
This translation will be the basis for further discussion about adaptations and
change request. Only one subject has to be changed now under 3.3
“Arbeitsgruppen” (Working Groups). Working documents will no longer be
written in German but in English.
Torsten Holst will do the translation of the Charta. Proof Reading will be done
by Gernot Greimler and Michael Zach.
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Page 9 of 13 to Circular letter no. 009/2008
Meeting of the FundsXML Standards Committee
On Wednesday, September 24th of 2008, VÖIG, Vienna I
Minutes to Topic 6
Promotion of FundsXML as an industry standard
The members of the Committee are of the opinion that a lot of work is already
done for promoting FundsXML. The efforts should be strengthened by
marketing business cases starting with the implementation of FundsXML as
well promoting the use of FundsXML.
It is decided to use the website to inform the Community about the progress of
FundsXML. For example: How many companies use FundsXML for how many
funds. The website should also be used to transport information like using
Hubs for data delivery like in Austria and France.
It would be great to offer Demo-Funds to show how to deliver the information
added by a descriptive documentation which is still missing.
Workshops for XML-Users and possible users like the one the German
association will do on 24. October 2008.
Also basic information about software and tools should be offered. In this
regard a co-operation with a company like Altova which creates FundsXML
Spy should be taken into account. FundsXML Spy could assist in
documentation purposes as well as in the development of tools.
Other European countries like Eastern European ones should be
convinced to use FundsXML as the standard for investment fund data
distribution.
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Page 10 of 13 to Circular letter no. 009/2008
Meeting of the FundsXML Standards Committee
On Wednesday, September 24th of 2008, VÖIG, Vienna I
Minutes to Topic 7
FundsXML Website
The Austrian colleagues have created a forum to assist companies and
discuss subjects related to the implementation of FundsXML in Austria. The
Standards Committee welcomes the intention of the Austrians to integrate this
forum into the FundsXML website. For the interim period a link to the Austrian
forum on the FundsXML website will be placed.
Gernot Greimler will discuss the way how to integrate the existing Austrian
forum with Andreas Schefter of BVI.
The Standards Committee decides on a change of the Website. It is no longer
the BVI-Standard. VÖIG/OeKB should also be named as well as other
institutions to come like DIAMS and IFR. A proposal should be worked out and
sent out for decision by the Standards Committee.
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Page 11 of 13 to Circular letter no. 009/2008
Meeting of the FundsXML Standards Committee
On Wednesday, September 24th of 2008, VÖIG, Vienna I
Minutes to Topic 8
Miscellaneous
a. EFAMA Data Dictionary Working Group
The Data Dictionary Working held its last meeting on 11 September 2008 in
Brussels. It is decided to work on 122 items and to find a common definition
taking into account the work of ISO 20022 and the upcoming FPP integration
as well as the specifics offered by FundsXML. It is decided to group the items
by topics like Date information, general fund information, portfolio information
etc.
The next meeting of the Data Dictionary Working group will be on 6 November
2008. The Standards Committee will be informed about the further
development
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Page 12 of 13 to Circular letter no. 009/2008
Meeting of the FundsXML Standards Committee
On Wednesday, September 24th of 2008, VÖIG, Vienna I
Minutes to Topic 8
Miscellaneous
b. Usage of FundsXML by the members of the
Standards Committee
The OeKB informed that the new statistics of the Austrian investment industry
will be delivered with FundsXML by the end of the year.
FERI will improve the quality of its data basis using data delivered with
FundsXML.
Allianz is working on extending the usage of FundsXML.
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Page 13 of 13 to Circular letter no. 009/2008
Meeting of the FundsXML Standards Committee
On Wednesday, September 24th of 2008, VÖIG, Vienna I
Minutes to Topic 8
Miscellaneous
c. Other Subjects
The integration of FPP in the next version of ISO 20022 makes it
necessary to decide on the integration of all the requested information in
FundsXML. This integration has to be decided on with the version after the
next. The Austrian colleagues see some problems to integrate the
message. The ISO structure is not that apt for integration in XML.
The Standards Committee proposes that the Austrian colleagues should
send their comments to EFAMA. That will enable EFAMA to discuss the
topic in the ISO Committees.
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