FXNext Version 2.7 - Payer conversion.puml

@startuml


title Transferring with Currency Conversion\nPayer DFSP requests conversion

actor "Upile Chisala" as A1
participant "NBS\nBank" as D1
participant "FDH FX" as FXP
participant "Switch" as S1
participant "Zoona" as D2
participant ALS
participant "Mulengwa\nKapwepwe" as A1
autonumber

A1->D1:I'd like to send 5000 MWK\nto Mulenga Kapwepwe, please
== Discovery Phase ==
activate D1
D1->S1:I want to send to MSISDN 260795390415\n**GET /parties/MSISDN/260795390415**
activate S1
S1-->D1:202 I'll get back to you
deactivate D1
S1->ALS:Who owns MSISDN 260795390415?
activate ALS
ALS-->S1:It's Zoona
deactivate ALS
S1->D2:Do you own MSISDN 260795390415?
activate D2
D2-->S1:202 I'll get back to you
deactivate S1
D2->S1:Yes, it's Mulenga Kapwepwe. She can receive in ZMW\n**PUT /parties/MSISDN/260795390415**
note over D2

    PUT /parties

    "party": {
    "partyIdInfo": {
    "partyIdType": "MSISDN",
    "partyIdentifier": "260795390415"
    },
    "name": "Mulenga Kapwepwe",
    "supportedCurrencies":[
    "ZMW"
    ]
    }
end note
activate S1
S1-->D2:200 Gotcha
deactivate D2
S1->D1:Yes, it's Mulenga Kapwepwe. She can receive in ZMW\n**PUT /parties/MSISDN/260795390415**
activate D1
D1-->S1:200 Gotcha
deactivate S1

== Currency conversion ==

D1->D1:Hmmm. Upile can only send in MWK.\nI need to get some currency conversion

D1->S1:What FXPs do you know about?\n**GET /services/FXP**
activate S1
S1-->D1:202 I'll get back to you
deactivate D1
S1->ALS:What FXPs do you know about?
activate ALS
ALS-->S1:FDH FX
deactivate ALS
S1->D1:Here are the available FXPs:FDH FX
note over S1

    PUT /services/FXP

    "fxpProviders": [
    "FDH_FX"
    ]
end note
activate D1
D1-->S1:200 Gotcha
deactivate S1
D1->D1:I'll ask FDH FX to perform my conversion

D1->S1:Here is the initial version of the transfer.\nPlease quote me for the currency conversion.
note over D1

    **post /fxQuotes**

    {
    "conversionRequestId": "828cc75f-1654-415e-8fcd-df76cc9329b9"
    , "conversionTerms": {
        "conversionId": "581f68ef-b54f-416f-9161-ac34e889a84b",
        , "counterPartyFsp": "FDH_FX"
        , "amountType": "SEND"
        , "sourceAmount": {
            "currency": "MWK"
            , "amount": "5000"
        }
        , "targetAmount": {
            "currency": "ZMW"
        }
        , "validity": "2021-08-25T14:17:09.663+01:00"
    }
    }

end note
activate S1
S1-->D1:202 I'll get back to you
deactivate D1
S1->FXP:Here is the initial version of the transfer.\nPlease quote me for the currency conversion.\n**POST /fxQuote**
activate FXP
FXP-->S1:202 I'll get back to you
deactivate S1
FXP->FXP:OK, so I need to figure this out...
note over FXP

    I will add a 150 MWK fee for undertaking the conversion.
    Now I'll set an expiry time, sign the quotation object,
    create an ILPV4 prepare packet and return it in the intermediary object.

    NOTE: the ILPV4 prepare packet contains the following items, all encoded:
    - The amount being sent (i.e. in the source currency)
    - An expiry time
    - The condition
    - The name of the FXP
    - The content of the conversion terms

    ** PUT /fxQuotes/828cc75f-1654-415e-8fcd-df76cc9329b9**

    {
        "condition": "bdbcf517cfc7e474392935781cc14043602e53dc2e8e8452826c5241dfd5e7ab"
        , "conversionTerms": {
            "conversionId": "581f68ef-b54f-416f-9161-ac34e889a84b"
            , "initiatingFsp": "NBS_Bank"
            "sourceAmount": {
                "currency": "MWK",
                "amount": "5000"
            }
            , "targetAmount": {
                "currency": "ZMW",
                "amount": "97"
            }
            , "charges": [
                {
                    "chargeType": "Conversion fee"
                    , "sourceAmount": {
                        "currency": "MWK"
                        , "amount": "150"
                    }
                    , "targetAmount": {
                        "currency": "ZMW"
                        , "amount": "3"
                    }
                }
            ]
        , "validity": "2021-08-25T14:17:09.663+01:00"
        }
    }
end note
FXP->S1:Here's the signed conversion object
activate S1
S1-->FXP:200 Gotcha
deactivate FXP
S1->D1:Here's the signed conversion object\n**PUT /fxQuotes/828cc75f-1654-415e-8fcd-df76cc9329b9**
activate D1
D1-->S1:Gotcha
deactivate S1


== Agreement Phase ==

D1->S1:Please quote for a transfer which sends 97 ZMW.\n(5000 MWK converted to ZMW, less 3 ZMW in FXP fees.\n**POST /quotes**
note over D1

    Fees will be taken out of the amount sent by the FXP.
    So the total which will be received by Zoona will be:
    Sent amount - FXP fees

    POST /quotes

    {
        "quoteId": "382987a8-75ce-4037-b500-c475e08c1727"
        ,"transactionId": "d9ce59d4-3598-4396-8630-581bb0551451"
        , "payee": {
            "partyIdInfo": {
            "partyIdType": "MSISDN"
            , "partyIdentifier": "260795390415"
            }
        }
        , "payer": {
            "partyIdInfo": {
                "partyIdType": "MSISDN"
                , "partyIdentifier": "265314118010"
            }
        },
        "amountType": "SEND"
        , "amount": {
            "currency": "ZMW"
            , "amount": "97"
        }
        , "validity": "2021-08-25T14:17:09.663+01:00"
    }
MW.\n**POST /quotes**
activate D2
D2-->S1:202 I'll get back to you
deactivate S1
D2->D2:OK, so I will charge 2 ZMW for this.\nNow I sign the transaction object\nand return it to the Debtor DFSP
D2->S1:Here's the signed quote
note over D2

    **put /quotes/382987a8-75ce-4037-b500-c475e08c1727**

    {
        "transferAmount": {
            "currency": "ZMW"
            , "amount": "97"
        }
        , "payeeReceiveAmount": {
            "currency": "ZMW"
            , "amount": "95"
        },
        "payeeFspFee": {
            "currency": "ZMW"
            , "amount": "2"
        }
        , "expiration": "2021-08-25T14:17:09.663+01:00
        , "transaction": {
            , "transactionId": "d9ce59d4-3598-4396-8630-581bb0551451"
            , "quoteId": "382987a8-75ce-4037-b500-c475e08c1727"
            , "payee": {
                "fspId": "Zoona"
                , "partyIdInfo": {
                    "partyIdType": "MSISDN"
                    , "partyIdentifier": "260795390415"
                }
            }
            , "payer": {
                "fspId": "NBS_Bank"
                , "partyIdInfo": {
                    "partyIdType": "MSISDN"
                    , "partyIdentifier": "265314118010"
                }
            }
            , "amount": {
                "currency": "MWK"
                "amount": "5000"
            }
            , "payeeReceiveAmount": {
                "currency": "ZMW"
                , "amount": "95"
            }
            , "converter": "PAYER"
        }
        , "condition": "BfNFPRgfKF8Ke9kpoNAagmcI4/Hya5o/rq9/fq97ZiA="
    }

    end note
    activate S1
    S1-->D2:200 Gotcha
    deactivate D2
    S1->D1:Here's the signed quote\n**PUT /quotes/382987a8-75ce-4037-b500-c475e08c1727**
    activate D1
    D1-->S1:200 Gotcha
    deactivate S1
    D1->D1:OK, I can see that there are going to be 5 ZMW in charges.\nThis is derived from the source and target amounts in the quotation.\nLooking at the conversion quotation,\nthat must be 250 MWK
    D1->A1:Hi, Upile: I can do the transfer.\nIt'll cost you 250 MWK in fees\nand Mulenga Kapwepwe will receive\n95 ZMW.\nLet me know if you want to go ahead
    A1-->D1:Great! Yes please, go ahead
    == Transfer Phase ==
    D1->D1:First, activate the conversion
    D1->S1:Please confirm your part of the transfer
    note over D1

    **POST /fxTransfers**

    {
        "commitRequestId": "77c9d78d-c26a-4474-8b3c-99b96a814bfc"
        , "determiningTransactionId": "d9ce59d4-3598-4396-8630-581bb0551451"
        , "requestingFsp": "NBS_Bank"
        , "respondingFxp": "FDH_FX"
        , "sourceAmount": {
            "currency": "MWK",
            "amount": "5000"
        }
        , "targetAmount": {
            "currency": "ZMW",
            "amount": "97"
        }
        , "condition": "bdbcf517cfc7e474392935781cc14043602e53dc2e8e8452826c5241dfd5e7ab"
    }
    end note
    activate S1
    S1-->D1:202 I'll get back to you
    deactivate D2
    S1->S1:OK, so this is an FX confirmation.
    S1->S1: Is there a transfer request for the determining transfer?\nNo, there isn't.\nSo this must be for payer conversion
    S1->S1: Liquidity check and reserve on Debtor DFSP's account
    note over S1

    Reservations:

    NBS_Bank has a reservation of 5000 MWK
 
    end note

    S1->FXP:Please confirm the currency conversion part of the transfer\n** POST /fxTransfers**
    activate FXP
    FXP-->S1:202 I'll get back to you
    deactivate S1
    FXP->FXP:Is all this OK?\nIf so, send the fulfilment back
    FXP->S1:Confirmed. Here's the fulfilment
    note over FXP

    **PUT /fxTransfers/77c9d78d-c26a-4474-8b3c-99b96a814bfc**

    {
        "fulfilment": "188909ceb6cd5c35d5c6b394f0a9e5a0571199c332fbd013dc1e6b8a2d5fff42"
        , "completedTimeStamp": "2021-08-25T14:17:08.175+01:00"
        , "conversionState": "RESERVED"
    }

    end note
    activate S1
    S1-->FXP:200 Gotcha
    deactivate FXP
    S1->S1:Check fulfilment matches and cancel if not.
    alt Conversion failed
    S1->FXP:Sorry. Conversion failed
    note over FXP

    **PATCH /fxTransfers/77c9d78d-c26a-4474-8b3c-99b96a814bfc**

    {
        "fulfilment": "188909ceb6cd5c35d5c6b394f0a9e5a0571199c332fbd013dc1e6b8a2d5fff42"
        , "completedTimeStamp": "2021-08-25T14:17:08.175+01:00"
        , "conversionState": "ABORTED"
    }

    end note
    activate FXP
    FXP-->S1:Acknowledged
    FXP->FXP:Remove any reservations\nor obligations
    deactivate FXP

    S1->D1:Sorry. Conversion failed
    note over S1

    **PUT /fxTransfers/77c9d78d-c26a-4474-8b3c-99b96a814bfc/error**

    {
        "errorCode": "9999"
        , "errorDescription": "Whatever the error was"
    }

    end note
    else Conversion succeeded

    S1->D1:Conversion succeeded subject to transfer success\n**PUT /fxTransfers/77c9d78d-c26a-4474-8b3c-99b96a814bfc**
    note over S1

    end note
    end
    activate D1
    D1-->S1:200 Gotcha
    deactivate S1
    D1->D1:OK, so that's all right\nNow I can send the transfer itself


    D1->S1:Please do the transfer
    note over D1

    POST /transfers

    {
        "transferId": "c720ae14-fc72-4acd-9113-8b601b34ba4d"
        , "payeeFsp": "Zoona"
        , "payerFsp": "NBS_Bank"
        , "amount": {
            "currency": "ZMW"
            , "amount": "97"
        }
        , "transaction": {
            , "transactionId": "d9ce59d4-3598-4396-8630-581bb0551451"
            , "quoteId": "382987a8-75ce-4037-b500-c475e08c1727"
            , "payee": {
                "fspId": "Zoona"
                , "partyIdInfo": {
                    "partyIdType": "MSISDN"
                    , "partyIdentifier": "260795390415"
                }
            }
            , "payer": {
                "fspId": "NBS_Bank"
                , "partyIdInfo": {
                    "partyIdType": "MSISDN"
                    , "partyIdentifier": "265314118010"
                }
            }
        }
    }

    end note
    activate S1
    S1-->D1:202 I'll get back to you
    deactivate D1
    S1->S1:Is there a dependent transfer? Yes
    S1->S1:Perform liquidity check and reserve funds\nagainst creditor party to dependent transfer
    note over S1

    Reservations:

    NBS_Bank has a reservation of 5000 MWK
    FDH_FX has a reservation of 97 ZMW

    end note
    S1->D2:Please do the transfer\n**POST /transfers**
    activate D2
    D2-->S1:202 I'll get back to you
    deactivate S1
    D2->D2:Let me check that the terms of the dependent transfer\nare the same as the ones I agreed to\nand that the fulfilment and condition match
    D2->D2:Yes, they do. I approve the transfer
    D2->S1:Transfer is confirmed, here's the fulfilment
    note over D2

    **PUT /transfers/c720ae14-fc72-4acd-9113-8b601b34ba4d**

    {
        "fulfilment": "mhPUT9ZAwd-BXLfeSd7-YPh46rBWRNBiTCSWjpku90s"
        , "completedTimestamp": "2021-08-25T14:17:08.227+01:00"
        , "transferState": "COMMITTED"
    }


    end note
    activate S1
    S1-->D2:200 Gotcha
    deactivate D2
    S1->S1:Is there a dependent transfer?\nYes, there is.
    S1->S1:Is this dependency against the debtor party to the transfer?\nYes, it is.
    S1->S1:Create an obligation from the debtor party to the party named in the dependency (the FXP)
    S1->S1:Is the transfer denominated in the currency of the payee receive amount?\nYes, it is.
    S1->S1:Create an obligation from the party named in the dependency\nto the creditor party for the transfer
    S1->FXP:The transfer succeeded.\nYou can clear it in your ledgers
    note over S1

    **PATCH /fxTransfers/77c9d78d-c26a-4474-8b3c-99b96a814bfc**

    {
        "fulfilment": "2e6870fb4eda9c2a29ecf376ceb5b05c"
        , "completedTimeStamp": "2021-08-25T14:17:08.175+01:00"
        , "conversionState": "COMMITTED"
    }

end note
activate FXP
FXP->FXP:Let's just check: does this match the stuff I sent?
FXP->FXP:It does. Great. I'll clear the conversion
FXP->S1:200 Gotcha
deactivate FXP
note over S1

    Ledger positions:
    NBS_Bank has a debit of 5000 MWK
    FDH_FX has a credit of 5000 MWK
    FDH_FX has a debit of 97 ZMW
    Zoona has a credit of 97 ZMW

end note
S1->D1:Transfer is complete\n**PUT /transfers/c720ae14-fc72-4acd-9113-8b601b34ba4d**
activate D1
D1-->S1:200 Gotcha
deactivate S1
D1->D1:Commit the funds in my ledgers
D1->A1:Transfer was completed successfully
deactivate D1

@enduml