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FpML (Financial products Markup Language) is a business information exchange standard based on Extensible Markup Language (XML) that enables business-to-business over-the-counter (OTC) financial derivative transactions online by following W3C standards.[1]

The standard is managed by the International Swaps and Derivatives Association (ISDA) on behalf of a community of investment banks that make up the OTC derivatives industry.[2][3] All categories of privately negotiated derivatives will eventually be included within the standard.

FpML is distinct from similar financial standards such as SWIFT and FIX because it does not specify a network or transport mechanism.

History

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The FpML standard was first published by JPMorgan and PricewaterhouseCoopers on 9 June 1999 in a paper titled "Introducing FpML: A New Standard for E-commerce".[citation needed] As a result, the FpML standards committee was founded.

The core scope includes the products of Foreign Exchange (FX) Swaps and Options, Interest Rate Swaps, Inflation Swaps, Asset Swaps, Swaptions, Credit Default Swaps, Credit Default Swap Indices and Baskets, Equity Derivatives, Equity Swaps, Total Return Swaps, and many others.

The core processes include trading, valuation, confirmation, novation, increase, amendment, termination, allocation, position reporting, cash flow matching, formal definition of party roles, as well as trade notification between asset managers and custodians.

As of December 2021, FpML 5.12 is the latest recommended version.[4]

Major participants

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See also

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Resources

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  1. ^ Rouse, Margaret (March 2011). "FpML (Financial Products Markup Language)". TechTarget. Retrieved 7 June 2019.
  2. ^ Marc Gratacos; Karel Engelen (December 2011). "Use of FpML for Risk Evaluation" (PDF). ISDA. Retrieved 7 June 2019. {{cite journal}}: Cite journal requires |journal= (help)
  3. ^ "FpML 5 User Guide – 2012 Edition". ISDA. Retrieved 19 December 2019.
  4. ^ "ISDA publishes the Recommendation for FpML 5.12". 28 September 2021. Retrieved 13 December 2021.
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Seniority (financial)

common shareholders receive anything. The seniority of bonds recognised in FpML (Financial products Markup Language) are as follows: Security interest Secured

Double digital option

requires |journal= (help) "FpML 4.2 Recommendation - Examples". FpML. Retrieved 11 May 2026. "FpML 4.2 Recommendation - Examples". FpML. Retrieved 11 May 2026

XML

Many industry data standards, such as Health Level 7, OpenTravel Alliance, FpML, MISMO, and the National Information Exchange Model are based on XML and

International Swaps and Derivatives Association

derivatives transactions. In addition to legal and policy activities, ISDA manages FpML (Financial products Markup Language), an XML message standard for the OTC

List of markup languages

(Business Narrative Markup Language) BPML (Business Process Modeling Language) FpML (Financial Product Markup Language) XBRL (eXtensible Business Reporting Language)

Functional presence engine

as FPML (Functional Presence Markup Language), which was based largely on AIML (Artificial Intelligence Markup Language). The original FPE and FPML are

International Air Transport Association code

BBML - Baby Meal BLML - Bland Meal CHML - Child Meal DBML - Diabetic Meal FPML - Fruit Platter Meal GFML - Gluten Intolerant Meal HNML - Hindu Meal KSML

Reference data (financial markets)

Financial Information eXchange (FIX) Financial products Markup Language (FpML) International Swaps and Derivatives Association (ISDA) International Securities