Press Releases at FpML.org
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Progress in FpML Version 2.0 Added to Spring
Forum Program; IRD Products Being Supported and Implemented using
e-Commerce Standard NEW YORK, April 11 - Progress in broadening the Interest Rate Derivatives (IRD) products coverage and features within FpML, the e-commerce standard supporting OTC derivatives trading, will be discussed at the FpML.org Spring Forum here April 18 and in London on April 24. Guy Gurden of JPMorgan, who chairs the non-profit consortium's IRD Products Working Group, said Swaptions, Caps/Floors, Break Clauses and much more will be supported by FpML Version 2.0, expected to be released shortly. "Forum attendees will also learn how components from FpML Version 2.0 are being incorporated directly into SwapsWire trade messaging," Mr. Gurden said. "This provides early implementation experience for straight-through processing to the Swaps market." SwapsWire (www.swapswire.com) is a collaborative venture within the interest rates derivatives community focusing on delivering e-solutions for the negotiation and trading of swaps products. Michael Davies, the company's Chief Technology Officer, said "The XML-based FpML standard is seen as a vehicle supporting our objectives." Mr. Davies is also a member of the FpML.org Standards Committee, which is responsible for defining the approach for creating and maintaining the standard. Mr. Gurden said that more than 60 firms have registered to attend the FpML.org forums in New York and London. The firms represent leading banks and financial institutions involved in derivatives trading, along with information and software vendors and systems integrators. "In addition to discussions on the SwapsWire experience, the program will cover updates on the FpML standard, FpML in use and its future direction," he said. "Breakout sessions will look at proprietary vs. industry financial standards, straight through processing, XML tools and activities regarding other asset classes being addressed." Information and registration at www.fpml.org.The FpML standard is freely licensed and is intended to automate the flow of information across the entire derivatives partner network, independent of the underlying software or hardware infrastructure supporting activities related to these transactions. Organizations actively participating in the FpML standard: Bank of America - BNP Paribas - Citigroup - Credit
Suisse First Boston - Deutsche Bank - Fuji Capital Markets Corporation
- Goldman Sachs - International Business Machines - JPMorgan - Morgan
Stanley - PricewaterhouseCoopers - Reuters - SunGard Trading and
Risk Systems - SwapsWire - S.W.I.F.T. - UBS Warburg |
