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Hello, 1. The main difference between 4.x and 5.x is around messaging and business processes (introduction of Confirmation/Reporting/Transparency/Recordkeeping Views business process categories. You can find a spreadsheet with message mapping here – http://www.fpml.org/documents/groupdocs.html [February 02, 2012: Messaging Mapping Table between Version 4.9 and 5.3 excel ] 2. The products have very minimum changes apart from FX refactoring. – IRD almost no changes; – CD – empty elements replaced by Boolean and creditDefaultSwap/generalTerms/sellerPartyReference/ and PartyReference/ was moved around; /creditDefaultSwap/generalTerms/scheduledTerminationDate/adjustableDate/unadjustedDate (adjusted date container was dropped) – EQD – prePaymentAmount, “paymentAmount”, notional”, “additionalPayment” are of type “NonNegativeMoney” instead of “Money” and a couple of more changes like the type of the element “localJurisdiction” is renamed from “Country” to “CountryCode”. – FX was refactored. You can review new FX PRODUCT ARCHITECTURE.doc here – http://www.fpml.org/_wgmail/_fxwgmail/docSexeI7hRsi.doc where the changes were outlined. There are also floating comments in FpML 5.1 and 5.2 visions that would show the difference. I think it could be also possible to diff the 4.x and 5.x product XSD (e.g. fpml-cd.xsd, fpml-ird.xsd, etc.) 3. Loan messages have been removed from 5.x as they are currently getting refactored and will be added in a later Version of FpML Regards, Irina Yermakova

Hello Paul, With FpML 5.x schema refactoring work: – all FpML messages ere refactored see the Messaging Mapping Table between Version 4.9 and 5.3 excel link I mentioned in my previous reply. – all FX products (sub-schema fpml-fx.xsd) have been refactored (e.g. elements were moved around/grouped differently/renamed to bring related data together) As a result of the refactoring work, following has been updated to reflect the changes: – All Business Validation rules – All instant documents that use FpML schema (xsd) version 5.x You are correct; you would need an XSLT to transform 4.5 to 5.3 for FpML FX products and FpML messages. For FX, you can follow this document for your mapping now http://www.fpml.org/_wgmail/_fxwgmail/docSexeI7hRsi.doc (although it is a bit outdated as there were some more changes) Regards, Irina Yermakova

Hello Paul, – At the moment, you would have to create your own XSLT. – 5.x FX refactoring includes an additional product – Dual Currency (which is a feature inside FxOption). Plus, in 5.3 some other fields were added e.g. tenorName/tenorPeriod was added to all products – to allowing the models to pass this tenor for UPI generation especially, etc. Regrads, Irina Yermakova