ISDA Publishes Recommendation for FpML version 5.3

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NEWS RELEASE For Immediate Release

ISDA Publishes Recommendation for FpML version 5.3

 

NEW YORK, August 7, 2012 – The International Swaps and Derivatives Association, Inc. (ISDA) today announced the publication of the Recommendation for FpML version 5.3. This version puts in place a robust technical framework for global regulatory reporting requirements. The focus in this version is the coverage of the Commodity Futures Trading Commission (CFTC) reporting requirements to swap data repositories and for real time reporting purposes.

A variety of changes have been made to the Financial products Markup Language (FpML) standard to allow for coverage of the CFTC reporting requirements, while keeping in mind the requirements from other regulators and developments in other jurisdictions. Besides the coverage for specific CFTC mandated data fields, work has been ongoing to represent the Unique Swap Identifier (USI), Legal Entity Identifier (LEI) and the interim CFTC Compliant Identifier (CICI). ISDA also integrated the ISDA taxonomy into the standard.

Besides the support for reporting, the Recommendation for FpML version 5.3 includes enhanced support for clearing messages and additional support for a variety of commodity products and processes, including the commodities large trade reporting requirements developed by the Commodities Reporting Working Group.

FpML is the industry data standard for over-the-counter (OTC) derivatives and complex products. A Recommendation is the final step in the development process of a version.

The versions are available on the FpML website. More information on the timing of future versions can be found in the FpML roadmap.

 

For Media Enquiries, Please Contact: Lauren Dobbs, ISDA New York, +1 212 901 6019, ldobbs@isda.orgRebecca O’Neill, ISDA London, +44 203 088 3586, roneill@isda.orgDonna Chan, ISDA Hong Kong, +852 2200 5906, dchan@isda.org

 

About ISDASince 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 835 member institutions from 59 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 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.

 

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.

 

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