15 Oct 2002: ISDA Launches FpML-Based Energy, Validation Standards

The International Swaps and Derivatives Association (ISDA) has issued a call for participation for two new working groups for the Financial products Markup Language (FpML) standard – Energy and Validation.

FpML is the XML-based freely licensed, e-commerce standard supporting OTC trading of financial derivatives. The energy working group will extend the FpML standard to include energy derivatives.

The validation working group will examine the business rules for validating FpML and the technical implementation of these business rules. The full charter of both working groups can be found at: http://www.fpml.org/wg/index.asp.

ISDA has scheduled its first ever FpML conferences for November 19 in New York and December 13 in London. The conferences will provide an overview of all developments that have taken place on the FpML front since the second half of 2001 as well as the challenges FpML faces ahead.

A panel discussion on industry standards and on the practical application of FpML will also be held. The afternoon sessions will consist of detailed information on the current specifications in the different asset classes as defined in version 3.0 and version 4.0. The complete conference agenda is available on the ISDA web site: www.isda.org.