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FpML (Financial products Markup Language) is an XML message standard for the OTC Derivatives industry. Don't change "Extensible" Standardization (or standardisation) is the process of developing and agreeing upon technical standards. Over-the-counter ( OTC) trading is to Trade Financial instruments such as Stocks bonds, commodities or derivatives Derivatives are Financial instruments whose values depend on the value of other underlying financial instruments

All categories of privately negotiated derivatives will eventually be included within the standard. The standard is managed by ISDA on behalf of a community of investment banks that make a market in OTC derivatives. The International Swaps and Derivatives Association ( ISDA) is a trade organization of participants in the market for over-the-counter derivatives.

The FpML standard was first published by JP Morgan and PricewaterhouseCoopers on 9th June 1999 in a paper titled "Introducing FpML: A New Standard for E-commerce". PricewaterhouseCoopers (or PwC is one of the world's largest Professional services firms As a result, the FpML standards committee was founded.

As of May 2007 FpML 4. 2 is the latest [Recommendation] version. The core scope includes the products of Foreign Exchange (FX) Swaps and Options, Interest Rate Swaps, Inflation Swaps, Asset Swaps, Swaptions, Credit Default Swaps, Credit Default Swap Indices, Credit Default Swap Baskets, Tranches on Credit Default Swap Indices, Equity Options, Equity Swaps, Total Return Swaps, and many others. The core processes include trading, valuation, confirmation, novations (also known as assignments), increases, amendments, terminations, allocations, position reporting, cash flow matching, a formal definition of party roles, as well as trade notification between asset managers and custodians.

The FpML community is currently working on versions 4. 3, 4. 4, and 5. 0. Version 4. 3 includes additional product support for Mortgage Credit Default Swaps, Loan Credit Default Swaps, Commodity Swaps, and Repos. A new process included is portfolio reconciliation.

FpML is distinct from similar financial standards such as SWIFT and FIX in scope because it provides no network or specification of a transport mechanism. The Society for Worldwide Interbank Financial Telecommunication ("SWIFT" operates a worldwide financial messaging The Financial Information eXchange ( FIX) protocol is an electronic Communications protocol initiated in 1992 for international real-time exchange of information related

Participants

The major participants in the definition of FpML are:

External links

Banc of America Securities Bank of America () is the largest bank by asset and second largest commercial Bank by deposits and Market capitalization in United Barclays Capital is a leading global investment bank. It is the investment banking division of Barclays plc which has a balance sheet of over £1 Barclays Global Investors is an investment management subsidiary of U BNP Paribas () is one of the main Banks in Europe. It was created on 23 May 2000 through the merger of Banque Nationale de Paris (BNP and Paribas HSBC Bank USA NA, the United States subsidiary of the HSBC Holdings plc, is a bank with its head office in New York City. The Credit Suisse Group () is a Financial services company headquartered in Zurich, Switzerland. Deutsche Bank AG (literally "German Bank" ˈdɔɪtʃə,) is an international Universal bank with a broad private clients franchise headquartered in The Depository Trust & Clearing Corporation (DTCC based primarily at 55 Water Street in New York City, is the world’s largest post-trade Financial services company The Goldman Sachs Group Inc, or simply Goldman Sachs ( is a large global Bank holding company that engages in Investment banking securities International Business Machines Corporation abbreviated IBM and nicknamed "Big Blue", is a multinational Computer Technology IONA Technologies,, began life as a campus company in Trinity College Dublin and was founded by Chris Horn Annrai O'Toole Colin Newman and Seán Baker JPMorgan Chase & Co ( is the largest Banking institution in the United States by deposits and market capitalization and is one of the oldest operating Morgan Stanley ( is a global Financial services provider headquartered in New York City New York United States The Royal Bank of Scotland plc ( Scottish Gaelic: Banca Rìoghail na h-Alba) is one of the retail banking subsidiaries of the Royal Bank of Scotland Group UBS AG ( SWX: UBSN) is a diversified global financial services company with its main headquarters in Basel & Zürich, Switzerland University College London ( UCL) is a multi-faculty university institution based in the United Kingdom and a constituent college of the University of London
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