October 11, 2019

FpML Quarterly Update Q3 2019

Version Updates

The work on version 5.11 is nearing completion:

  • In August, ISDA published the Last Call Working Draft (LCWD) quickly followed by a revision, based on industry feedback. The second LCWD is available at https://www.fpml.org/spec/fpml-5-11-4-lcwd-2/.
  • For a detailed overview of the changes see section 18 of the online documentation, or the announcement.
  • The Trial Recommendation is planned for publication at the end of October. The final Recommendation is on track for publication by the end of 2019. See the FpML roadmap.

The main enhancements in version 5.11 are:

  1. A complete redesign of the Regulatory Reporting framework (Recordkeeping and Transparency Views).
  2. A refactoring of syndicated loan processes and notifications, including a new and expanded set of loan business validation rules.
  3. New support for Security Lending and review of the repo coverage in line with SFTR requirements.
  4. New Support for Inflation Rate linked Asset Swap product as an extension of the Inflation Rate model.


Coding Schemes Update

ISDA published updates to the following coding schemes:

  • actionTypeScheme
  • assetClassScheme
  • BusinessCenterScheme
  • collateralArrangementScheme
  • collateralizedExposureGroupingScheme
  • creditQualityTypeScheme
  • floatingRateIndexScheme
  • instrumentTypeScheme
  • legalDocumentStyleScheme
  • productTypeSimpleScheme

External schemes:

  • Removed the version string from the external coding scheme URIs:
    • currencyScheme
    • entityIdScheme
    • entityNameScheme
    • exchangeIdScheme
    • See the announcement.

Deprecated scheme:

  • CFTC commodityReferencePriceScheme (deprecated)
    • The CFTC Commodity Reference Price coding scheme was deprecated on January 25 and will be removed from the coding scheme archive on the FpML website on January 25, 2020. The 1 year deprecation period allows the industry to act on the pending removal which we will reconsider upon request during the deprecation period.

Visit the Reference Data page for more information on the scheme publications or http://www.fpml.org/spec/coding-scheme/.



Upcoming Tools: Product Classifier (beta version under development)

  • ISDA is working on a beta version of the Product Classifier. The Product Classifier takes FpML messages or CDM JSON files as input and classifies the trade according to the ISDA Taxonomy 2.0.
  • The Product Classifier will be the latest addition to the suite of APIs we have made available and that we will continue to develop in the second half of this year. The Product Classifier together with the FpML to ISIN JSON Generator, the FpML to JSON Converter, and FpML Validator are available in the tools section of the website.
  • Feedback on the tools and APIs is greatly appreciated. Questions or comments can be submitted to tools@fpml.org or FpML forums.


FpML Training Courses

ISDA is organizing FpML Training Courses in London (December 4-5)