23 May 2002: ISDA Calls for Participation in Version 4.0 Development

The International Swaps and Derivatives Association (ISDA) has issued a call for participation for the Equity Derivatives Working group for the Financial products Markup Language (FpML) standard.

With version 3.0 of the standard -- including basic equity derivatives -- currently under development, the organization is looking to extend the standard to cover more exotic equity derivatives.

Brian Lynn, co-chair of the FpML Standards Committee and vice president e-Trading, Cross-Business e-Commerce group for JP Morgan Chase, says “There is interest in the industry for equity derivative coverage and a great deal of momentum within the working group.”

Although version 3.0 has not yet reached draft stage, it is thought that those that answer the call for participation will be involved in the development of version 4.0.

Version 4.0 will include the existing features, FX, options and equity derivatives, and option features such as Asians, barriers, baskets, Bermudans, binaries, quantos, composites, different forms of deferred term options and different option trading strategies.