First Working Draft of FpML Version 4.6

ISDA has published a First Working Draft for FpML Version 4.6.

This Working Draft is available on the FpML website in the Specifications section at: http://www.fpml.org/spec/fpml-4-6-1-wd-1/

The following is an overview of the changes compared with the Trial Recommendation for FpML Version 4.5, which was published on January 05, 2009.

Credit Derivatives:

• Added support for Standard Coupon CDS:
  • Added new "StandardNorthAmericanCorporate" value to Matrix Term and Broker Confirmation Type schemes.

Equity Derivatives:

• Added support for Equity Swaps on European Index underlyers:
  • Added support for Variance Option Transaction Supplement.

Syndicated Loan:

• Amended OnGoingFeeTypeEnum enumeration, added a new value "LetterOfCreditFee" for an on-going fee charged for the issuance of a letter of credit to a named beneficiary, on behalf of the borrower against a facility.

FX Derivatives:

• Added an example to demonstrate how Dual Currency Deposits can be represented using the Strategy component, combining a Term Deposit and an FX Option.

Coding Schemes:

• Matrix Term scheme has been updated.
• Broker Confirmation Type scheme has been updated.

Validation Rules:

• Syntax for validation rules has been updated based on the new validation rule specification.

The following issues have been resolved:

• http://www.fpml.org/issues/view.php?id=907

More information on the timing of version 4.6 and the coverage and timing of future versions can be found in the FpML roadmap: http://www.fpml.org/roadmap/roadmap.pdf

Please send your comments to us by filling in the form at http://www.fpml.org/issues

The FpML Team