Press Releases at FpML.org
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FpML.org Seeks Comments on Version 2.0 Working Draft; Extends Coverage to Interest Rate Option and Swaps NEW YORK, Sept. 19 - FpML.org has published Financial products Markup Language Version 2.0 as a working draft and is seeking comments from interested parties before issuing a last call working draft, reports Brian Lynn, co-chair of the non-profit consortium's Standards Committee. The working draft can be obtained via www.fpml.org/spec/index.html. Comments on the working draft are requested by Friday, 9th November 2001 via fpml-issues@yahoogroups.com. "Version 2.0 extends the FpML standard to cover interest rate options including swaptions, caps and floors, and the coverage of swaps to include FX resetables, cancelables and early termination provisions," Mr. Lynn said. "Once we receive and act on industry feedback, we'll issue a last call working draft before putting Version 2.0 out as a trial recommendation." The final step in the progress of Version 2.0 is to be endorsed as a Recommendation by FpML.org. A Recommendation reflects consensus within FpML.org, as represented by approval from the Standards Committee. The Standards Committee considers that the ideas or technology specified by a Recommendation are appropriate for widespread deployment and promote the mission of FpML.org. FpML is the XML-based, freely licensed, e-commerce standard supporting OTC trading of financial derivatives. FpML.org is comprised of leading global derivatives trading institutions, and financial, technology and consulting firms. FpML.org endorsed FpML version 1.0 in May 2001. It covers interest rate swaps and forward rate agreements. Firms Leading the FpML Standard Development: |
