Clearing and Electronic Execution
Clearing/ Electronic Execution of OTC derivatives
- Enhancements to support Part 22 (LSOC) requirements.
- The CFTC has passed 17 CFR Part 22, commonly known as Legal Segregation with Operational Commingling (LSOC). (pdf)
- The FpML Business Process Working Group has been developing a set of messages to support LSOC requirements.
- Messages are available in FpML version 5.4 and above.
- Enhance clearing messaging capabilities
- We continuously enhance and expand the clearing messaging capabilities of FpML to adapt to the rapidly evolving clearing landscape.
- Please refer to the Business Process Architecture section of the specification for more information.(FpML specifications)
- Clearing Certainty
- FpML is participating in an joint effort led by ISDA and FIA to develop prototype credit limit check messages.
- Clearing certainty is a concern for many market participants as the industry moves towards central clearing.
- Extending the standard to enable execution certainty will represent an important step toward bringing OTC products onto execution platforms.
- Draft of the messages are available in FpML version 5.5 and above.