NEWS RELEASE
For Immediate Release, Tuesday, July 20, 2010
For More Information, Please Contact:
Cesaltine Gregorio, ISDA New York, +1 212-901-6019, cgregorio@isda.org
Deirdre Leahy, ISDA New York, +1 212-901-6021, dleahy@isda.org
Rebecca O’Neill, ISDA London, +44 203 088 3586, roneill@isda.org�
ISDA Releases Recommendation for Version 5.0 of FpML
NEW YORK, Tuesday, July 20, 2010
The International Swaps and Derivatives Association, Inc. (ISDA) today released the Recommendation for Version 5.0 of its Financial products Markup Language (FpML). Version 5.0, a complete re-release of the standard, is the first major FpML release since 2004 and should further drive and facilitate the industry’s focus on automation and standardization in the derivatives pre- and post-trade and reporting space.
Version 5.0 contains a number of important technical and design changes, including the introduction of Views, a revision of the messaging framework and use of multiple root elements. The Views allow for the development of a reporting framework in FpML by combining the richness of the product representations with the necessary flexibility for reporting. The Views also facilitate better support of additional life cycle processes such as pre-trade and risk.
In addition to these changes, recommendations from a cross-product task force have increased the consistency of the product representations and rationalized the business process definitions. The expanded coverage in this version includes new sets of clearing messages and reset and activity reporting.
Version 5.0 is available on the FpML website (www.fpml.org). As it is not backwards compatible, ISDA will continue to support the 4 series of the FpML standard for existing coverage in parallel with the 5 series for a limited time. The recommendation for version 4.8 will be released later this month. Version 4.8 contains additional support for commodity and equity derivatives.
Looking ahead, the next release in the 5 series, Version 5.1, will include the redesign of the existing coverage for FX and syndicated loans and incorporate the work of the collateral working group.
About FpML
FpML (Financial products Markup Language) is the freely licensed business information exchange standard for electronic dealing and processing of privately negotiated derivatives and structured products. It establishes the industry protocol for sharing information on, and dealing in, financial 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. The standard is developed under the auspices of ISDA, using the ISDA derivatives documentation as the basis. For more information, please visit www.fpml.org.
About ISDA
ISDA, which represents participants in the privately negotiated derivatives industry, is among the world’s largest global financial trade associations as measured by number of member firms. ISDA was chartered in 1985, and today has over 820 member institutions from 57 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 is a registered trademark of the International Swaps & Derivatives Association, Inc.
Documents (1) for ISDA Releases Recommendation for Version 5.0 of FpML
Latest
Key Trends in OTC Derivatives Market H2 2025
The latest data from the Bank for International Settlements over-the-counter (OTC) derivatives statistics shows an increase in notional outstanding of OTC derivatives during the second half of 2025 compared to the same period in 2024. Notional outstanding rose across all...
ISDA-SIFMA letter to SEC on Swap Dealer Thresholds
ISDA and SIFMA have submitted a comment letter to the SEC in response to the staff report on the definitions of “security-based swap dealer” and “major security-based swap participant.” The associations recommend maintaining the current de minimis thresholds for both...
ISDA responds to RBI consultation on SA-CCR
On July 1, ISDA responded to the Reserve Bank of India's (RBI) consultation on draft amendment directions on the standardized approach for counterparty credit risk (SA-CCR). ISDA broadly welcomes the RBI's move to SA-CCR and updated capital treatment for exposures...
Data Subject Access Request Form
Pursuant to its mission to promote safe and efficient markets within the over-the-counter (OTC) derivatives industry, The International Swaps and Derivatives Association, Inc. (ISDA) processes personal data of its employees, members and non-members (for example individuals attending ISDA conferences or...
