Press Releases at FpML.org
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Financial Technologies International (FTI) Joins FpML Technical Committee Led By PricewaterhouseCoopers and J. P. Morgan & Co.
FTI To Extend Current Use of XML To Support FpML New York, NY . . . Financial Technologies International (FTI), the world’s leading provider of real-time business information platforms, announced today that it has been selected to join the technical committee of FpML (financial products markup language). The FpML standard, announced publicly on June 9, 1999 by J. P. Morgan (NYSE: JPM) and PricewaterhouseCoopers, will be licensed freely to the technical and financial markets and enables Internet-based electronic dealing and information sharing of financial derivatives, initially focusing on interest rate and foreign exchange products. Based on XML, the emerging Internet standard for data sharing between applications, the FpML protocol enables Internet-based integration of a range of services, from electronic trading and confirmations, to portfolio specification for risk analysis. Standardization of information, a cornerstone of FTI’s products, enables firms to gain substantial operating efficiencies. FTI’s Global Financial Data Model (GFDM®) and The BoxTM standardize, structure and enrich all of the information required by global financial institutions. Through the use of FpML, those systems that adopt this standard will have the ability to communicate seamlessly while advancing trading accuracy and operating efficiencies. "Having an industry standard protocol embedded in our product benefits customers as well as our development effort," said Rich Bemindt, chief technology officer of FTI, "which is why FTI has supported XML since its inception and as a fundamental consideration in our product architecture." FTI’s products are designed to take advantage of industry standards and FpML is a logical extension of FTI’s usage of XML within its own products. FTI looks forward to natively supporting the rapid emergence of XML-based financial industry standards in each of its upcoming releases and is committed to supporting the use of FpML. "FTI will be invaluable to the FpML effort. They have extensive experience in building data models that support the financial industry and their XML experience is second to none," said Adam Griessman of PricewatershouseCoopers, adding, "working with the FPML technical committee, FTI can ensure that the FpML protocol is rich and complete." For more information on the FpML seminars or the FpML standard, see www.fpml.org. About J.P. Morgan & Co. J.P. Morgan & Co. Incorporated (www.jpmorgan.com) is a leading global financial firm that meets critical financial needs for business enterprises, governments and individuals. The firm advises on corporate strategy and structure, raises capital, makes markets in financial instruments, and manages investment assets. Morgan also commits its own capital to promising enterprises and invests and trades to capture market opportunities. About PricewaterhouseCoopers PricewaterhouseCoopers (www.pwcglobal.com) is the world’s leading professional services organisation. Drawing on the knowledge and skills of 155,000 people in 150 countries, we help our clients solve complex business problems and measurably enhance their ability to build value, manage risk and improve performance. PricewaterhouseCoopers refers to the US firm of PricewaterhouseCoopers LLP and other members of the worldwide PricewaterhouseCoopers organization. About FTI For more information, visit http://www.ftisoft.com. Contact: Vice President Worldwide Marketing Financial Technologies International |
