Browse Definitions :
Definition

FpML (Financial Products Markup Language)

Financial Products Markup Language (FpML) is a business information exchange standard based on Extensible Markup Language ( XML ) that enables business-to-business over-the-counter (OTC) financial derivative transactions using the Internet . FpML is used between participating companies for communicating OTC transaction details, within a company for the purpose of sharing OTC transaction information, and between a participating company and an outside firm offering a service related to the OTC transaction. FpML is freely licensed and, because it is independent of the software or hardware used by participating companies, ensures interoperability . FpML focuses on interest rate swaps and Forward Rate Agreements (FRA) but will eventually be used for all aspects of OTC transactions.

OTC contracts shared between two companies are highly customized based on the needs of the parties involved. For this reason, prior to the arrival of the Internet and XML, it was not feasible to efficiently carry out the OTC contract process online. Today, companies can electronically structure and negotiate the terms of an OTC contract, execute and confirm the contract, communicate settlement details, and analyze risks using FpML.

Chase Manhattan Bank has reviewed and adopted FpML for their OTC Interest Rate Derivative applications. Fuji Capital Markets Corporation used the FpML definition to design their XML-based FRA confirmation prototype. And J.P. Morgan developed an FpML interest rate swap prototype application. Organizations participating in the development and application of FpML include Bank of America, Citigroup, Deutsche Bank, IBM, PricewaterhouseCoopers, J.P. Morgan, Reuters, and UBS Warburg.

This was last updated in March 2011

Continue Reading About FpML (Financial Products Markup Language)

Start the conversation

Send me notifications when other members comment.

Please create a username to comment.

-ADS BY GOOGLE

File Extensions and File Formats

SearchCompliance

  • California Consumer Privacy Act (CCPA)

    The California Consumer Privacy Act (CCPA) is legislation in the state of California that supports an individual's right to ...

  • compliance audit

    A compliance audit is a comprehensive review of an organization's adherence to regulatory guidelines.

  • regulatory compliance

    Regulatory compliance is an organization's adherence to laws, regulations, guidelines and specifications relevant to its business...

SearchSecurity

  • endpoint detection and response (EDR)

    Endpoint detection and response (EDR) is a category of tools and technology used for protecting computer hardware devices–called ...

  • ransomware

    Ransomware is a subset of malware in which the data on a victim's computer is locked, typically by encryption, and payment is ...

  • single sign-on (SSO)

    Single sign-on (SSO) is a session and user authentication service that permits an end user to enter one set of login credentials ...

SearchHealthIT

SearchDisasterRecovery

  • disaster recovery team

    A disaster recovery team is a group of individuals focused on planning, implementing, maintaining, auditing and testing an ...

  • cloud insurance

    Cloud insurance is any type of financial or data protection obtained by a cloud service provider. 

  • business continuity software

    Business continuity software is an application or suite designed to make business continuity planning/business continuity ...

SearchStorage

  • blockchain storage

    Blockchain storage is a way of saving data in a decentralized network which utilizes the unused hard disk space of users across ...

  • disk mirroring (RAID 1)

    RAID 1 is one of the most common RAID levels and the most reliable. Data is written to two places simultaneously, so if one disk ...

  • RAID controller

    A RAID controller is a hardware device or software program used to manage hard disk drives (HDDs) or solid-state drives (SSDs) in...

Close