Press Releases at FpML.org
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FpML.org Requests Input on New Asset Classes Supported by OTC Derivatives Trading Standard NEW YORK, October 16 - FpML.org has issued a Call for Interest for industry input on additional asset classes and processes to be supported by Financial products Markup Language, the XML-based standard automating OTC trading of financial derivatives. Brian Lynn, co-chair of the non-profit consortium's Standards Committee, said "We're particularly seeking comments on Credit and Energy Derivatives, and Interest Rate Exotics and Hybrids. These have high interest in the financial community. But respondents are encouraged to suggest other asset classes and processes as well." Responses should be submitted via http://www.fpml.org/wg/interest/index.html by COB on November 9, 2001. They will be reviewed at the November Standards Committee meeting, after which Calls for Participation in Working Groups will be issued for asset classes attracting the most interest. FpML.org, a volunteer organization, is governed by a Board of Directors representing leading global derivatives trading institutions. It is also supported by financial, technology and consulting firms. The consortium's initial efforts focused on Interest Rate Swaps and Forward Rate Agreements processes which are embodied in FpML Version 1.0 released as a Recommendation in May 2001. The first Call for Interest in December 2000 resulted in Working Groups focusing in Equity Derivatives and FX products. Other open Calls seek proposals for FpML tools and comments on the Version 2.0 Working Draft. Information is accessed via the main www.fpml.org web site. Firms Leading the FpML Standard Development: |
