ISDA has published the Third Trial Recommendation for FpML Version 4.4

ISDA has published a third 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-4-4-9-tr-3/
The following is an overview of the changes compared with the second Trial Recommendation FpML Version 4.4, which was published on June 27th, 2008.

Equity Derivatives:

• Some refactoring work for Leg Identifier.
• Amended documentation for elements "specialDividends" and "materialDividend".

Commercial Loan:

1. Refactoring work based on the input from the Coordination Committee.

At the schema level, the following changes have been applied:

1. Renamed dealIdentifier/DealIdentifier (element/complex type) to dealSummary/DealSummary
2. Renamed facilityIdentifier/FacilityIdentifier (element/complex type) to facilitySummary/FacilitySummary
3. FacilitySummary extends IdentifiedAsset instead of Product
4. DealSummary extends IdentifiedAsset instead of Product
5. As a result of the schema changes, the examples were updated as well.

Credit Derivatives:

1. Added support for Fixed Recovery Swaps with recovery value - 100%.

Coding Schemes:

1. Contractual Supplement scheme has been updated. 

The following issues have been resolved:

1. http://www.fpml.org/issues/view.php?id=770
2. http://www.fpml.org/issues/view.php?id=764

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