FpML® Services: Consulting and Training
Through its FpML services, ISDA provides consultancy to members and non members to facilitate their use of FpML. Examples of services are:
- Review of implementations to evaluate how FpML compliant they are and provide advice to improve compliancy.
- Provide advice on how to get started with FpML. This can be in the form of providing help with the specifications themselves, provide information on existing tools, or provide information on the necessary knowledge and references to existing implementations and experiences.
- Provide advice on what exists currently in the market with regard to FpML.
- Help evaluate existing implementations and architecture and provide advice on the role FpML can play.
- Provide sample libraries based on Java binding technology in order to generate valid FpML documents.
- Consulting for the development of a trade repository and reporting service based on FpML in Asia. Project included the review of the repository design and functionality, product data representation, reporting specification via CSV and FpML, creation of testing scenarios and test data. Training of the development team and testers in FpML.
- We advised a central bank on the strategy for implementing a Service Oriented Architecture.
- We delivered documentation and examples to several clients (global banks, asset managers, and custodians), describing internal messaging based on FpML to cover new messages, securities, and structured products.
- We delivered a set of templates to an asset manager in order to facilitate the population of a fully compliant FpML message identifying required, defaulted, and derived fields. Templates included legal and market practice defaults and covered a wide range of derivatives products.
- We advised a global bank on the strategy for implementing an internal messaging based on FpML to cover transaction information and valuations across multiple systems.
- We advised an asset manager on the data mapping between front-office systems and FpML for Vanilla Interest Rate Swaps, Credit Default Swaps, and CDX indices.
FpML services provides customized training around all FpML aspects. Examples of training are:
FpML Training: An Introduction to FpML
This is an introductory course covering a wide range of FpML topics, including fundamentals and the basic structure of FpML, product coverage for interest rate and credit derivatives, messaging, extensions, validation, and change guidelines.
Extending FpML - An Advanced FpML Training Course
This is a hands-on training course focused on extending FpML. Participants will learn the necessary concepts on how to extend FpML and they will apply them by doing practical exercises creating extensions and examples.
Processing FpML - An Advanced FpML Training Course
This is a hands-on training course focused on processing and validating FpML. Participants will learn the necessary concepts on how to process and validate FpML and they will apply them by doing practical exercises binding FpML to Java and creating an extensible validation engine based on open-source technology.
- We delivered a tailored FpML training course to several clients (central banks, global and regional banks, asset managers, and custodians), including coverage of Credit, Interest Rate, Equity, and FX Derivatives.
- We delivered a tailored hands-on training course for extending FpML to several clients (global banks, asset managers, and custodians) including customized modeling of new messages, securities, and structured products.