Press Releases at FpML.org
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FpML.org Charts Progress in Extending Trading Standard to Cover FX Products and Equity Derivatives NEW YORK, October 15 - Volunteers on FpML.org Working Groups focusing on FX Products and Equity Derivatives are making substantial progress, and are expected to issue working drafts by year end, according to Matt Meinel, co-chair of the non-profit consortium's Standards Committee. These asset classes will form the core of Financial products Markup Language Version 3.0, for which a working draft will be issued early in 2002, he said. Products addressed by the FX specification comprise spots; forwards including non- deliverable forwards; swaps; vanilla, barrier, average rate and digital options, and trade strategies, Mr. Meinel said. Equity Derivative products include single stock, basket, indices and convertible bond equity swaps (total return and performance). Also included are American, European, Asian and barrier options (single stock, basket, indices and contracts for differences). Details are available at http://www.fpml.org/wg/index.asp. FpML is the XML-based standard automating OTC trading of financial derivatives. FpML.org is a volunteer organization governed by a Board of Directors representing leading global derivatives trading institutions. It is also supported by financial, technology and consulting firms. The consortium's initial efforts focused on Interest Rate Swaps and Forward Rate Agreements, processes for which are embodied in FpML Version 1.0 released as a Recommendation in May 2001. Working Groups focusing in Equity Derivatives and FX products were established in early 2001. The organization is seeking industry proposals for additional asset classes to be covered by the standard, and comments on the Version 2.0 Working Draft. Information is accessed via the main www.fpml.org web site. Firms Leading the FpML Standard Development: |
