FpML® (Financial products Markup Language) is the open source XML standard for electronic dealing and processing of OTC derivatives. It establishes the industry protocol for sharing information on, dealing in and reporting, financial derivatives and structured products. The standard is developed under the auspices of ISDA, using the ISDA derivatives documentation as the basis. As a true open standard, the standards work is available to all at no cost and open to contribution from all. There is no membership requirement. The standard evolution and development is overseen and managed by the FpML Standards committee, following W3C rules of operations guidelines.
FpML covers all the major asset classes: Interest Rate Derivatives, Credit Derivatives, Equity Derivatives, FX Derivatives, Commodity Derivatives, as well as support for Syndicated Loans. The standard includes a comprehensive messaging framework intended to automate the flow of information across the entire derivatives network, independent of the underlying software or hardware infrastructure. FpML is used extensively to automate processes such as the execution, confirmation, clearing of trades, and fulfilling reporting obligations to trade repositories and regulators in all major jurisdictions.
The FpML website serves as the focal point for all aspects of the FpML standard development effort. Please visit http://www.fpml.org.