(Financial Products Markup Language) An XML-based data exchange standard for over-the-counter (OTC) transactions in the financial derivatives industry. It was initially set up for interest rate swaps and forward rate agreements. For more information, visit www.fpml.org.
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FpML (Financial products Markup Language) is an XML message standard for the OTC Derivatives industry.
All categories of privately negotiated derivatives will eventually be included within the standard. The standard is managed by ISDA on behalf of a community of investment banks that make a market in OTC derivatives.
The FpML standard was first published by JP Morgan and PricewaterhouseCoopers on 9 June 1999 in a paper titled "Introducing FpML: A New Standard for E-commerce". As a result, the FpML standards committee was founded.
As of October 2009 FpML 4.7 is the latest [Recommendation] version. The core scope includes the products of Foreign Exchange (FX) Swaps and Options, Interest Rate Swaps, Inflation Swaps, Asset Swaps, Swaptions, Credit Default Swaps, Credit Default Swap Indices, Credit Default Swap Baskets, Tranches on Credit Default Swap Indices, Equity Options, Equity Swaps, Total Return Swaps, and many others. The core processes include trading, valuation, confirmation, novations, increases, amendments, terminations, allocations, position reporting, cash flow matching, a formal definition of party roles, as well as trade notification between asset managers and custodians.
The FpML community is currently working on versions 4.7 and 5.0.
FpML is distinct from similar financial standards such as SWIFT and FIX in scope because it provides no network or specification of a transport mechanism.
The major participants in the definition of FpML are:
This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)
 | XML vocabulary (technology) |
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| List of markup languages |
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