NEWS RELEASE

For Immediate Release, Tuesday, August 3, 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�

Donna Chan, ISDA Hong Kong, +852 2200 5906, dchan@isda.org  

ISDA Releases Recommendation for Version 4.8 of FpML

NEW YORK, Tuesday, August 3, 2010

The International Swaps and Derivatives Association, Inc. (ISDA) today released the Recommendation for Version 4.8 of its Financial products Markup Language (FpML). Version 4.8 contains additional support for commodity and equity derivatives. The version further drives and facilitates the industry’s focus on automation and standardization in the derivatives pre- and post-trade and reporting space.

Version 4.8, which builds on Version 4.7, contains support for physically-settled commodity options. In addition, the coverage for equity derivatives is expanded to include pan-Asia index swaps.

On July 20, 2010, ISDA released the Recommendation for Version 5.0. As this version 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. Both Version 4.8 and Version 5.0 are available on the FpML website (www.fpml.org).

Looking ahead, work on Version 4.9 has been initiated. ISDA will publish a working draft in August and the Recommendation is expected to be released by year-end. 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.