FpML 5.8 Recommendation 2

FpML 5.8 Recommendation 2

July 26, 2016 - Build 9

In version 5.8, a number of schema structures were tightened to improve data quality and provide better guidance for implementers. The schema tightening changes introduce backward incompatible changes compared to previous versions of the schema. The FpML 5.8 schemas are backwards compatible with documents that use the FpML grammar correctly. The changes to the XML schema grammar and types should only cause documents that contain invalid data values or incorrect structures to fail XML schema validation. Please refer to the following technical paper for a complete list of changes http://www.fpml.org/docs/FpML-5-8-schema-tightening.pdf

Used for confirming the precise details of contracts and post-trade business events. It is intended to have similar characteristics to the FpML 1-4 product representation, i.e. a very detailed product representation capturing the details needed for a transaction confirmation.
Used for reporting the Pretrade Terms of derivative transactions. In addition this view also supports Credit Limit Check messages to support Clearing Certainty work flows.
A Legal view has been introduced in the FpML framework since version 5.7 to support legal documentation. The Standard Credit Support Annex (SCSA) is the first type of legal document represented in FpML. Similarly to what is in place for trades, the FpML representation focuses on representing the elections and variables associated with the underlying legal document, not the whole terms of it. The FpML Standards CSA is seeking feedback from the industry. Please submit feedback to scsawgchair@fpml.org

Regulatory Reporting

Used for reporting price forming information about executed transactions to the public by reporting parties and execution platforms. It is intended to provide only the key product economics that are appropriate for standardized transactions, and not customizations and detailed information not required for price discovery, for example details of date adjustment rules and the like.
Used for reporting the Primary Economic Terms of derivative transactions to Swaps Data Repositories from entities including market participants, execution platforms, and clearing or confirmation services. This view is intended to have similar characteristics to the FpML "confirmation view" product representation, i.e. a very detailed product representation capturing the details needed for a transaction valuation; it may not include all documentation and legal terms.

Risk Reporting

Used for reporting trading and business activities and positions (including as part of STP flows), as well as processes such as reconciliation. This view has a moderately loose product representation; it requires key economic information such as the notional, key dates, and parties, but leaves other information optional.

Errata List

View an errata document for this specification.

Master Schema

Master-Schema Technical Paper