For Immediate
Release Friday, April 19, 2002
For More
Information, Please Contact:
Stacy Carey, ISDA New York, (212) 332-1200; Fax (212) 332-1212; scarey@isda.org
49 30 2602, ext. 4126; Jennifer@kennedycom.com
In addition to equity derivatives, Version 3.0 covers all previously defined IRD products in FpML Version 2.0, as well as FX products such as FX Spot, Forwards, Non-deliverable forwards, FX Swaps and FX OTC Options, making it the first FpML version to cover different asset classes. The Working Draft represents work in progress and a commitment by ISDA to pursue work in this particular area. The full text of the Working Draft is available at www.fpml.org/spec/index.html.
As work on Version 3.0 continues, the new “Tools” section on the FpML web site continues to grow. The overall objective of the “Tools” section is to promote the development and support of FpML tools or utilities, which will facilitate the widespread use and adoption of the FpML standard across the OTC financial industry. To date, of the vendors developing FpML tools, twelve are listed on the web site. It is expected that the number of tools will continue to increase as development proceeds. The current vendor list is available on the new section entitled “Tools” on the FpML web site, www.fpml.org/services/tools.
FpML is a business information exchange standard for electronic dealing and processing of financial derivatives instruments. It establishes a new protocol for sharing information on, and dealing in, financial derivatives over the Internet. It is based on XML (Extensible Markup Language), the standard meta-language for describing data shared between applications. All categories of over-the-counter (OTC) derivatives will eventually be incorporated into the standard.