FpML.org Establishes Working Group for Equity Derivatives Products

NEW YORK, Feb. 26 - FpML.org, the non-profit consortium establishing Financial products Markup Language as the e-Commerce standard for OTC derivatives trading, has established an Equity Derivatives Products Working Group, according to Brian Lynn, co-chair of the organization's Standards Committee. The group is responsible for extending the product definition of the current FpML standard to include equity-based derivatives products including equity swaps (total return and performance) equity options (American, European, Asian, Barrier) and contracts for differences.

"The decision to form this group was based on feedback obtained from our recent 'call for interest' to identify new asset classes to be covered by the FpML standard," Mr. Lynn said.

FpML is a freely licensed standard designed to support the electronic dealing and processing of financial derivatives between trading partners, including financial institutions and their client network.

*Organizations actively participating in the FpML standard:
Bank of America - BNP Paribas -Citigroup - Credit Suisse First Boston - Deutsche Bank - Fuji Capital Markets Corporation - Goldman Sachs - International Business Machines - JPMorganChase - Londex - Morgan Stanley Dean Witter - PricewaterhouseCoopers - Reuters - SunGard Trading and Risk Systems - SwapsWire - S.W.I.F.T. - UBS Warburg ###