ISDA®
INTERNATIONAL
SWAPS AND DERIVATIVES ASSOCIATION, INC.
NEWS RELEASE
For Immediate Release, Tuesday, August 3, 2010
For More Information, Please Contact:
Cesaltine
Gregorio, ISDA New York, +1 212-901-6019, cgregorio@isda.org
Deirdre
Leahy, ISDA New York, +1 212-901-6021, dleahy@isda.org
Rebecca O'Neill, ISDA London, +44 203 088 3586, roneill@isda.org
Donna
Chan, ISDA Hong Kong, +852 2200 5906, dchan@isda.org
ISDA Releases Recommendation
for Version 4.8 of FpML
NEW YORK, Tuesday, August 3, 2010 –The International Swaps and
Derivatives Association, Inc. (ISDA) today released the Recommendation for
Version 4.8 of its Financial products Markup Language
(FpML). Version 4.8 contains additional support for
commodity and equity derivatives. The version further drives and facilitates
the industry’s focus on automation and standardization in the derivatives pre-
and post-trade and reporting space.
Version
4.8, which builds on Version 4.7, contains support for physically-settled
commodity options. In addition, the coverage for equity derivatives is expanded
to include pan-Asia index swaps.
On July
20, 2010, ISDA released the Recommendation
for Version 5.0. As this version is not backwards compatible, ISDA
will continue to support the 4 series of the FpML
standard for existing coverage in parallel with the 5 series for a limited
time. Both Version 4.8 and Version 5.0 are available on the FpML website (www.fpml.org).
Looking ahead, work on Version 4.9 has been initiated. ISDA will publish a
working draft in August and the Recommendation is expected to be released by
year-end. The next release in the 5 series, Version 5.1, will include the
redesign of the existing coverage for FX and syndicated loans and incorporate
the work of the collateral working group.
About FpML
FpML (Financial
products Markup Language) is the freely licensed business information exchange
standard for electronic dealing and processing of privately negotiated
derivatives and structured products. It establishes
the industry protocol for sharing information on, and dealing in, financial
derivatives and structured products over the Internet. It is based on XML
(Extensible Markup Language), the standard meta-language for describing data
shared between applications. The standard is developed under the auspices of
ISDA, using the ISDA derivatives documentation as the basis. For more
information, please visit www.fpml.org.
About ISDA
ISDA, which represents participants in the privately negotiated
derivatives industry, is among the world’s largest global financial trade
associations as measured by number of member firms. ISDA was chartered in 1985,
and today has over 820 member institutions from 57 countries on six continents.
These members include most of the world’s major institutions that deal in
privately negotiated derivatives, as well as many of the businesses,
governmental entities and other end users that rely on over-the-counter
derivatives to manage efficiently the financial market risks inherent in their
core economic activities. Information about ISDA and its activities is
available on the Association's web site: www.isda.org.
ISDA® is a registered trademark of the International Swaps & Derivatives
Association, Inc.