December 8, 2017

ISDA has published FpML 5.10 Last Call Working Draft

The International Swaps and Derivatives Association, Inc. (ISDA) has published the Last Call Working Draft for Financial products Markup Language (FpML) version 5.10. The main changes compared to FpML 5.10 WD2 include:
  • The reporting redesign is being removed from 5.10 LCWD and will be published in a parallel version 5.10a. This allows for further review of the reporting redesign changes, without delaying the other functionality in version 5.10.
  • 5.10 LCWD includes additional loan coverage (including non-backward compatible changes in the loan schema compared to 5.8 and 5.9.)
  • The party identification scheme has been made mandatory, which is a non-backward compatible change. Up until version 5.9, the default party identification scheme was the SWIFT Bank Identifier Code (BIC) code. Going forward (5.10 and above) implementers will be forced to qualify the type of identification scheme e.g. BIC, LEI. The set of examples has been updated accordingly.
  • GenericProduct underlyer has been extended with IndexReferenceInformation. This allows for support of CDS index products that are not covered by the standardized CDS templates (e.g. Credit TRS on index).
  • Loan asset underlyer has been extended with CreditSeniority to support e.g. senior, senior secured, etc. loan.

A more detailed overview of the changes can be found in the "Changes in this Version" section of the online documentation.

The Last Call Working Draft is available on the FpML website in the Specifications section at:

More information on the coverage and timing of future versions can be found in the FpML roadmap:

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