NEWS RELEASE

For Immediate Release, Wednesday, February 17, 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

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

ISDA Releases Recommendation Version 4.7 of FpML

NEW YORK, Wednesday, February 17, 2010

The International Swaps and Derivatives Association, Inc. (ISDA) today released the Recommendation for Version 4.7 of its Financial products Markup Language (FpML).

Version 4.7 of the standard has additional coverage for equity derivatives, including EU and Pan-Asia Interdealer Share Swaps, EU Client Index Swaps, and US Client Options. Version 4.7 marks further improvements in interest rate, commodity, and credit derivatives. The ongoing enhancements of the FpML standard are testament to the central role FpML plays in the industry’s focus on increased automation in the post-trade and reporting space.

ISDA continues parallel efforts to develop Version 5 of the standard. Version 5 will further enhance the flexible reporting framework and consistency within the business process framework and across the product representations. Version 5 will include a redesign of the existing coverage for FX and syndicated loans; and incorporate the work of the recently started collateral working group.

FpML is the XML-based, freely licensed, business information exchange standard for electronic dealing and processing of derivatives and structured products. Recommendation status is the final step in the development process of a version of the standard. It reflects consensus within the FpML community and bears the FpML Standards Committee stamp of approval. The FpML Standards Committee considers the ideas and technology specified by a Recommendation as appropriate for widespread deployment. Recommendation additionally means that feedback has been incorporated and users are actively implementing the version. The Recommendation is available on the FpML web site (www.fpml.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.

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 810 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.