For
Immediate Release Wednesday, June 26, 2002
For More Information, Please Contact:
Stacy Carey, ISDA New York, (212) 901-6000;
Fax (212) 901-6001; scarey@isda.org
“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: Messaging Working
Group. Parties interested in participating in this working group can do so
by filling in the participation form on the FpML
website: Working Group Signup.
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
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