ISDA has published the Second Trial Recommendation for FpML Version 4.4

ISDA has published a second Trial Recommendation for FpML Version 4.4.

This Trial Recommendation is available on the FpML website in the Specifications section at: http://www.fpml.org/spec/fpml-4-4-8-tr-2/
The following is an overview of the changes compared with the first Trial Recommendation FpML Version 4.4, which was published in June 9th, 2008.

Equity Derivatives:

• Added support for Variance Swap Transaction Supplement.
• Added support for Dispersion Variance Swap.
• Amended Variance Swap structure, the maximum allowable number of variance legs has been increased to unbounded, to allow the long form Variance Dispersion to be supported.
• Amended Directional Leg type to include the ability to have version aware identification of each leg.
• Amended Dividend Leg structure in order to support an additional value for the Japanese Index Dividend Swap Transaction Supplement.

Credit Derivatives:

• Added support for Fixed Recovery Swaps.
• Added Support for new municipal CDS transaction types.

Coding Schemes:

• Credit Matrix Transaction Type scheme has been updated.

The following issues have been resolved:

• http://www.fpml.org/issues/view.php?id=731
• http://www.fpml.org/issues/view.php?id=703
• http://www.fpml.org/issues/view.php?id=688
• http://www.fpml.org/issues/view.php?id=583

More information on the timing of version 4.4 and coverage and timing of future versions can be found in the FpML roadmap: http://www.fpml.org/roadmap/roadmap.pdf

Please send your comments to us by filling in the form at http://www.fpml.org/issues