ISDA Issues Call For Participation for FpML Messaging Working Group
New York, NY, USA. June 26, 2002.
The International Swaps and Derivatives Association (ISDA) today issued a call for participation for the messaging working group for the Financial products Markup Language (FpML) standard. FpML is the XML-based, freely licensed, e-commerce standard supporting OTC trading of financial derivatives.
"The timing is right to focus on the business processes," said Michael Liberman, Managing Director, Goldman Sachs and Co-Chair of the FpML standards committee. The working group will extend the FpML standard to include messages supporting business processes relating to pricing, trading, risk management and credit checking.
The full charter of the messaging working group and a technical note completed by the messaging task force can be found at: www.fpml.org/wg/messaging/index.asp. Parties interested in participating in this working group can do so by filling in the participation form on the FpML website: www.fpml.org/wg/joining/join-form.asp.
FpML is a business information exchange standard for electronic dealing and processing of financial derivatives instruments. It establishes the industry protocol for sharing information on, and dealing in, financial swaps, derivatives and structured products, over the Internet. It is based on XML (Extensible Markup Language), the standard meta-language for describing data shared between applications. Currently focusing on interest rate derivatives, FX and equity derivatives, FpML will eventually cover all categories of privately negotiated derivatives.
ISDA is the global trade association representing leading participants in the privately negotiated derivatives industry. ISDA was chartered in 1985, and today has more than 575 member institutions from 46 countries on six continents. These members include most of the world's major institutions that deal in privately negotiated derivatives, as well as many of the businesses, governmental entities and other end users that rely on over-the-counter derivatives to manage efficiently the financial market risks inherent in their core economic activities. Information about ISDA and its activities is available on the Association's web site: www.isda.org.
ISDA: International Swaps And Derivatives Association
ISDA New York
Tel: +1 (212) 901-6000
Fax: +1 (212) 901-6001
Prepared by Robin Cover for The XML Cover Pages archive. See "Financial Products Markup Language (FpML)" and the technical note for the "Financial Products Markup Language (FPML) Messaging Structure."