Recommendation of FpML Version 4.7

ISDA has published the Recommendation for FpML Version 4.7.
The Recommendation is available on the FpML website in the Specifications section at: http://www.fpml.org/spec/fpml-4-7-6-rec-1
The following is an overview of the changes compared with the FpML 4.7 Trial Recommendation which was published on December 20, 2009:

• Credit Derivatives:
• To support industry agreement that defaulting to the STS for Calculation Agent should be denoted on the confirmation, the following new value "AsSpecifiedInStandardTermsSupplement" was added within CalculationAgentPartyEnum simple type.
• Equity Derivatives:
• To support EU (Client) Index Swaps:
• Within Compounding complex type, an optional element compoundingDates was added.
• componentSecurityIndexAnnexFallback was added to an optional choice with existing multipleExchangeIndexAnnexFallback.
• To fully support US (Client) Options, the following was added:
• expirationDeterminationMethod as a choice to existing equityExpirationTimeType, equityExpirationTime.
• latestExerciseTimeDetermination as a choice to existing latestExerciseTime.
• Coding Schemes:
• The following schemes have been updated:
• ContractualSupplement
• MasterConfirmationType
• MasterConfirmationAnnexType

More information on the 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.