Can someone tell me how genericProduct is used in version 5.0? According to the product summary it was introduced since 5.0 however I do not see how this is represented in the schema.

Hi neohshar,

The initial implementation of a "generic" product description was (poorly) named nonSchemaProduct (instance of type "NonSchemaProduct"), and first appeared in the FpML 5-1 Reporting view.

The genericProduct name (same underlying type) was introduced in version 5-2, but please note that the first public implementations will be based on the RecordKeeping and Transparency views at FpML 5-3. (Please note that nonSchemaProduct is retained in the Standard for backward compatibility reasons, but should be regarded as deprecated in favour of genericProduct).

This area is still evolving, and the genericProduct definition is likely to develop further before publication of the 5-3 Recommendation.

Hope that helps,

Best regards,
Harry McAllister