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.
The standard is managed by International Swaps and Derivatives Association (ISDA) on behalf of a community of investment banks that make up the OTC derivatives industry. All categories of privately negotiated derivatives will eventually be included within the standard.
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". As a result, the FpML standards committee was founded.
As of February 2018, FpML 5.10 is the latest recommended version. 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, Credit Default Swap Baskets, Tranches on Credit Default Swap Indices, Equity Options, Equity Swaps, Total Return Swaps, and many others. The core processes include trading, valuation, confirmation, novations, increases, amendments, terminations, allocations, position reporting, cash flow matching, a formal definition of party roles, as well as trade notification between asset managers and custodians. The FpML community is currently working on versions 5.11.
- Rouse, Margaret (March 2011). "FpML (Financial Products Markup Language)". TechTarget. Retrieved 7 June 2019.
- Marc Gratacos; Karel Engelen (December 2011). "Use of FpML for Risk Evaluation" (PDF). International Swaps and Derivatives Association (ISDA). Retrieved 7 June 2019. Cite journal requires
- ISDA® Bookstore: FpML® 5 User Guide – 2012 Edition at the Wayback Machine (archived 2017-04-01)
- "ISDA has published FpML 5.10 Recommendation". 12 February 2018. Retrieved 6 June 2019.
- "ISDA has published FpML 5.11 First Working Draft". 18 October 2018. Retrieved 6 June 2019.