NEWS RELEASE For Immediate Release
ISDA Publishes the Recommendation for FpML version 5.2
NEW YORK, December 1, 2011 – The International Swaps and Derivatives Association, Inc. (ISDA) today announced the publication of the Recommendation for FpML version 5.2. One of the main features is the added support for clearing messages. In addition to the 5.2 publication, the Recommendation for version 5.1 is republished to include comments received after the publication of the 5.1 Recommendation. Financial products Markup Language (FpML) is the industry data standard for OTC derivatives. A Recommendation is the final step in the development process of a version.
Besides the support for clearing messages, version 5.2 Recommendation covers physical settlement of interest rate options, a recent Supplement to the ISDA 2006 definitions and additional validation rules for Foreign Exchange. Work on regulatory and public reporting, a main focus area for the industry and developed in earlier working drafts of 5.2, has been withdrawn from this version. Publication of this work is waiting for the publication of the final rules from the US regulators on reporting.
Version 5.1 includes the collateral messages and a substantive refactoring of the Foreign Exchange representation in addition to an expansion of the validation rules in these areas.
The versions are available on the FpML website (www.fpml.org). More information on the timing of future versions can be found in the FpML roadmap: www.fpml.org/roadmap/roadmap.pdf.
For More Information, Please Contact: Lauren Dobbs, ISDA New York, +1 212 901 6019, ldobbs@isda.orgRose Millburn, ISDA London, +44 203 088 3526, rmillburn@isda.orgDonna Chan, ISDA Hong Kong, +852 2200 5906, dchan@isda.org
About ISDA Since 1985, ISDA has worked to make the global over-the-counter (OTC) derivatives markets safer and more efficient. Today, ISDA is one of the world’s largest global financial trade associations, with over 825 member institutions from 57 countries on six continents. These members include a broad range of OTC derivatives market participants: global, international and regional banks, asset managers, energy and commodities firms, government and supranational entities, insurers and diversified financial institutions, corporations, law firms, exchanges, clearinghouses and other service providers. Information about ISDA and its activities is available on the Association’s web site: www.isda.org.
About FpMLFpML (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.
ISDA® is a registered trademark of the International Swaps and Derivatives Association, Inc.FpML® is a registered trademark of the International Swaps & Derivatives Association, Inc
Documents (1) for ISDA Publishes the Recommendation for FpML version 5.2
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