Press Releases at FpML.org
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FpML.org Posts Last Call Working Draft for FpML Version 2.0; NEW YORK, November 20 - The FpML.org Standards Committee has published a last call working draft for Financial products Markup Language Version 2.0, the XML-based standard supporting OTC trading of interest rate options. Matt Meinel, who co-chairs the Standards Committee, said the working draft is posted at www.fpml.org/spec/index.asp. Comments should be submitted by Monday, January 7th 2002 via fpml-issues@yahoogroups.com. After these are reviewed, Version 2.0 will be posted as a trial recommendation. FpML Version 2.0 extends interest rate product coverage to include interest rate options including swaptions, caps and floors, and extends the swap definition to include FX resetables, cancelables and early termination provisions. 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 a non-profit consortium comprised of leading global derivatives trading institutions, and financial, technology and consulting firms. The consortium is currently integrating its standards development process into ISDA based on a recent agreement between the two organizations. FpML.org endorsed FpML version 1.0 as a Recommendation in May 2001. It covers interest rate swaps and forward rate agreements. Work is progressing on FpML Version 3.0, which covers FX and Equity Derivatives. Firms Leading the FpML Standard Development: |
