[7dev] Oscar Twomey Asset Model - Adding Redemption Attribute to Debt Type (#4447)

* Asset Model - Adding Redemption Attribute to Debt Type

* Spelling corrections

* update RELEASE.md + expectations

* Update RELEASE.md

---------

Co-authored-by: Oscar Twomey <oscar.twomey@regnosys.com>
Co-authored-by: CDM-ReleaseManagement-OT <oscar.twomey+cdm@regnosys.com>
Co-authored-by: payal.khanna <payal.khanna@regnosys.com>

Author: 4 people

RELEASE.md

@@ -1,17 +1,19 @@
-# *Ingestion Framework for FpML - Mapping Coverage: Credit, Equity and Commodity*
-
+# _Asset Model - Adding Redemption Attribute to Debt Type_
 _Background_
 
-Ingestion functions for FpML Confirmation to CDM have mapping coverage gaps for some products or test packs compared to the legacy Synonym mapping coverage. For further information, see [#4260](https://github.com/finos/common-domain-model/issues/4260).
+There are several values in the the `DebtClassEnum` relating to the redemption of the debt which could be more granular and composable. There are 4 attributes representing unique combinations for `IssuerConvertible`, `HolderConvertible`, `IssuerExchangeable`, `HolderExchangeable`. However, these could be represented using separate enums and conditions within DebtType. This would also remove the additional Convertible attribute.
 
 _What is being released?_
 
-This release maps Credit, Equity and Commodity products, as per [#4453](https://github.com/finos/common-domain-model/issues/4453), [#4454](https://github.com/finos/common-domain-model/issues/4454) and [#4455](https://github.com/finos/common-domain-model/issues/4455).
+Created a DebtRedemption type 
+- Added `redemptionType` attribute with type `RedemptionTypeEnum` 
+- Added `putCall` attribute with type `PutCallEnum` 
+- Added `party` attribute with type `RedemptionPartyEnum` 
 
-- Mapping support added for `AssetIdTypeEnum` values `Name` and `REDID` for FpML Credit products
-- Mapping of price per option updated for FpML Equity products
-- Mapping of `id` to `CommodityPayout` for FpML Commodity products
+Created 2 new enums 
+- `RedemptionTypeEnum` with values Convertible, Exchangeable, ContingentConvertible, Sinkable, Extraordinary
+- `RedemptionPartyEnum` with values Holder and Issuer
 
 _Review Directions_
 
-Changes can be reviewed in PR: [#4456](https://github.com/finos/common-domain-model/pull/4456)
+The changes can be reviewed in PR: [#4447](https://github.com/finos/common-domain-model/pull/4447)

rosetta-source/src/main/rosetta/base-staticdata-asset-common-enum.rosetta

@@ -293,14 +293,9 @@ enum MaturityTypeEnum: <"Represents an enumeration list to identify the Maturity
     FromIssuance <"Denotes a period from issuance date until now.">
 
 enum DebtClassEnum: <"Represents an enumeration list that identifies the type of debt.">
-    Convertible <"Identifies a debt instrument that can be converted into common shares.">
     RegCap <"Identifies a debt instrument as one issued by financial institutions to count towards regulatory capital, including term and perpetual subordinated debt, contingently convertible and others.  Excludes preferred share capital.">
     Structured <"Identifies a debt instrument athat has non-standard interest or principal features, with full recourse to the issuer.">
     Vanilla <"Identifies a debt instrument that has a periodic coupon, a defined maturity, and is not backed by any specific asset. The seniority and the structure of the income and principal payments can optionally be defined in DebtType.DebtEconomics.">
-    HolderConvertible <"Identifies a debt instrument that can be converted primarily at the election of the holder into common shares of the Issuer.">
-    HolderExchangeable <"Identifies a debt instrument that can be converted primarily at the election of the holder into common shares of a party other than the Issuer.">
-    IssuerConvertible <"Identifies a debt instrument that can be converted at the election of the Issuer into common shares of the Issuer.  Also known as reverse convertible.">
-    IssuerExchangeable <"Identifies a debt instrument that can be converted at the election of the Issuer into common shares of a party other than the Issuer.  Also known as reverse exchangeable.">
 
 enum SecuredTypeEnum: <"Specifies the type of secured debt.">
     AssetBacked <"Debt instrument with periodic income payments and value derived from or backed by a specified pool of underlying assets.">
@@ -355,6 +350,17 @@ enum DebtPrincipalEnum: <"Represents an enumeration list that specifies the gene
     OtherStructured <"Denotes that the  principal on the debt is calculated with reference to other underlyings (not being floating interest rates, inflation rates or indices) or with a non-linear relationship to floating interest rates, inflation rates or indices.">
     PrincipalOnly <"Denotes a stripped bond representing only the principal component.">
 
+enum RedemptionTypeEnum: <"Specifies the contractual redemption or conversion features associated with a debt security.">
+    Convertible <"Specifies a debt instrument that can be converted into common shares.">
+    Exchangeable <"Specifies a debt security that can be converted to equity in a company other than the issuing company.">
+    ContingentConvertible <"Specifies a debt security that can be converted into equity if a pre-defined trigger event occurs.">
+    Sinkable <"Specifies a debt security that requires the issuer to periodically set aside money to buy back portions of the debt.">
+    Extraordinary <"Specifies a debt security that can be redeemed early if certain extraordinary events occur.">
+
+enum RedemptionPartyEnum: <"Specifies the redeeming party of a debt security.">
+    Holder <"Specifies the holder of a debt security.">
+    Issuer <"Specifies the issuer of a debt security.">
+
 enum AssetTypeEnum: <"Represents an enumeration list to identify the asset type.">
     Security <"Indentifies negotiable financial instrument of monetary value with an issue ownership position.">
     Cash <"Indentifies cash in a currency form.">

rosetta-source/src/main/rosetta/base-staticdata-asset-common-type.rosetta

@@ -223,15 +223,24 @@ type EquityType:
         if equityType <> EquityTypeEnum -> DepositaryReceipt
         then depositaryReceipt is absent
 
-type DebtType: <"Specifies the type of debt instrument.">
-    debtClass DebtClassEnum (0..1) <"Specifies the characteristics of a debt instrument.">
-    debtEconomics DebtEconomics (0..*) <"Specifies selected financial terms of a debt instrument.">
+type DebtType: <"Specifies the type of debt security.">
+    debtClass DebtClassEnum (0..1) <"Specifies the characteristics of a debt security.">
+    debtEconomics DebtEconomics (0..*) <"Specifies selected financial terms of a debt security.">
 
-type DebtEconomics: <"Specifies selected economics of a debt instrument.">
+type DebtEconomics: <"Specifies selected economics of a debt security.">
     seniority DebtSeniorityEnum (0..1) <"Specifies the order of repayment in the event of a sale or bankruptcy of the issuer or a related party (eg guarantor).">
     interest DebtInterestEnum (0..1) <"Specifies the general rule for periodic interest rate payment.">
     principal DebtPrincipalEnum (0..1) <"Specifies the general rule for repayment of principal.">
     secured SecuredDebt (0..1) <"Specifies the type of secured debt.">
+    redemption DebtRedemption (0..1) <"Specifies the general rule for redemption of a debt security.">
+
+type DebtRedemption: <"Specifies the redemption features and whether the redemption right is exercised at the discretion of the issuer or the holder.">
+    redemptionType RedemptionTypeEnum (0..1) <"Specifies the contractual redemption or conversion features associated with a debt security.">
+    putCall PutCallEnum (0..1) <"Specifies the embedded option feature of a debt security.">
+    party RedemptionPartyEnum (0..1) <"Specifies whether the debt security is redeemed at the election of the Issuer/Holder.">
+
+    condition ConvertibleExchangablePartyElectionExists: <"A type of redemption must be specified if the redeeming party is specified.">
+        if party exists then redemptionType exists or putCall exists
 
 type SecuredDebt:
     securedType SecuredTypeEnum (0..1) <"Specifies the type of secured debt product.">