FpML.org Seeks Industry Input To Help Prioritize New E-Commerce Standard Coverage Supporting OTC Derivatives Trading

NEW YORK, Dec.19 - FpML.org, the non-profit consortium developing Financial products Markup Language as an e-commerce standard for OTC derivatives trading, is seeking suggestions for additional asset classes and functionality that should be addressed in future versions of the standard. The consortium is comprised of leading banks, information and software vendors and systems integrators. *

FpML.org Chairman Philippe Khuong-Huu said the initiative stems from comments made by the nearly 300 delegates from 122 firms that attended FpML symposiums held recently in New York and London. "Clearly there is tremendous interest in expanding the standard beyond the interest rate domain," Mr. Khuong-Huu said. "To quickly move forward, we're asking interested parties to tell us where we should be focusing our efforts." He said asset classes being considered include FX options, and equity, credit and commodity derivatives, with other suggestions welcomed.

"We're also looking for individuals to participate in the FpML development effort," Mr. Khuong-Huu said. "Examples of participation include drafting the charter for a working group, participating in or chairing a group, contributing a proposal and reviewing draft documents."

FpML is a freely licensed XML-based standard. FpML.org is dedicated to the development and use of FpML as the communications standard for streamlining the processes supporting e-commerce activities in the financial derivatives domain.

To participate in extending its product coverage, complete the Call for Interest form at www.fpml.org/wg/index.html. Responses are requested by COB January 4, 2001. Visit www.fpml.org for further information on the standard.