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

Powered by:

SearchCompliance

  • compliance framework

    A compliance framework is a structured set of guidelines that details an organization's processes for maintaining accordance with...

  • regulatory compliance

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

  • privacy compliance

    Privacy compliance is a company's accordance with established personal information protection guidelines, specifications or ...

SearchSecurity

SearchHealthIT

  • telemedicine (telehealth)

    Telemedicine is the remote delivery of healthcare services, such as health assessments or consultations, over the ...

  • Project Nightingale

    Project Nightingale is a controversial partnership between Google and Ascension, the second largest health system in the United ...

  • medical practice management (MPM) software

    Medical practice management (MPM) software is a collection of computerized services used by healthcare professionals and ...

SearchDisasterRecovery

  • disaster recovery (DR) test

    A disaster recovery test (DR test) is the examination of each step in a disaster recovery plan as outlined in an organization's ...

  • crisis management plan (CMP)

    A crisis management plan (CMP) is a document that outlines the processes an organization will use to respond to a critical ...

  • pandemic plan

    A pandemic plan is a documented strategy for business continuity in the event of a widespread outbreak of a dangerous infectious ...

SearchStorage

  • megabytes per second (MBps)

    Megabytes per second (MBps) is a unit of measurement for data transfer speed to and from a computer storage device.

  • zettabyte

    A zettabyte is a unit of measurement used by technology professionals and the general public to describe a computer or other ...

  • hybrid flash array

    A hybrid flash array is a solid-state storage system that contains a mix of flash memory drives and hard disk drives.

Close