FpML News

bullet ISDA published the First Working Draft for FpML Version 5.5.

ISDA has published the First Working Draft for FpML Version 5.5 (build 1).

This version includes the following changes compared with the FFpML 5.4 Recommendation which was published on December 10th, 2012:

  • All Views:
    • Regulatory Reporting:
      • Added several new fields, coding schemes, and examples to support ESMA regulatory reporting, including
        • party/region field
        • partyTradeInformation/collateralPortfolio identifier field
        • partyTradeInformation/reportingRegime/exceedsClearingThreshold boolean field
        • European regulatory region coding scheme
        • enhanced the ReportingRole coding scheme
        • ESMA organization classification scheme
    • Enhancements to the Generic Product
  • FX:
    • Support for fxFlexibleForward product.
  • Business Process:
    • Added support for Equity Corporate Action and Basket Change events.
  • Equity Derivatives:
    • Additions based on the trading firms' requirements:
      • Added support for value "Both" (Both parties with joined rights to be a calculation agent) to "CalculationAgentPartyEnum".
      • Refactored "CalculationFromObservation" complex type, to support Initial Level Source in Variance and Correlation Swaps.
      • Updated several coding schemes: localJurisdictionScheme, determinationMethodScheme, instrumentIdScheme
  • Listed Derivatives Reporting:
    • Added several new components and examples to support ESMA regulatory reporting, including:
      • Added "holding" structure to position/constituent for securities position reporting.
      • Added examples of reporting securities activity and position
      • Added examples of reporting securities market data
    • Added several new components and examples to support regulatory reporting for commodities, including:
      • Added a new Exchange Traded Option asset underlyer and added an example.
      • Updated the Future underlyer and added an example.
  • Addition of a New Pre-trade View:
    • Added a set of Credit Limit Check messages to support Clearing Certainty work flows.
    • Added support for IRS and CDS products in pretrade.
  • Added messaging support in Pre-trade and Confirmation Views:
    • The Business Product Working Group added several new messages to support services that wish to define the OTC derivative products that they support:
      • The "defineSupportedProduct" message allows a service provider such as a clearing house, trade repository, or custodian to define the scope of products that it offers support for.
      • The "defineTradeableProduct" message allows an exchange or dealer to create a contract definition for a standardized OTC derivative, together with a definition of the negotiated terms.
  • The following issues have been resolved:
    • http://www.fpml.org/issues/view.php?id=1155
    • http://www.fpml.org/issues/view.php?id=1145
    • http://www.fpml.org/issues/view.php?id=1146
    • http://www.fpml.org/issues/view.php?id=1147
    • http://www.fpml.org/issues/view.php?id=1148
    • http://www.fpml.org/issues/view.php?id=1135
    • http://www.fpml.org/issues/view.php?id=1136

For detailed overview of the changes, see the section CHANGES IN THIS VERSION in a specific view of the Specification.

The Working Draft is available on the FpML website in the Specifications section at: http://www.fpml.org/spec/fpml-5-5-1-wd-1/

More information on the timing of version 5.3 and the coverage and timing of future versions can be found in the FpML roadmap: http://www.fpml.org/roadmap/roadmap.pdf.

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


The FpML Team