ISDA has published FpML 5.10 First Working Draft

The International Swaps and Derivatives Association, Inc. (ISDA) has published the First Working Draft for Financial products Markup Language (FpML) version 5.10. Changes compared to the FpML 5.9 Recommendation 2 include:

•   Interest Rate Derivatives:
  • Added example of Bond Forward (using the generic product)
  • Made improvements to set of inflation products (zero-coupon swap, year on year).
• Regulatory Reporting:
  • ESMA MiFID II Support
    • [Recordkeeping View] (RTS 22) "Details to be reported in transaction reports" (Made refinements to the mapping. Corrected 5.9 example. See record-ex170.)
    • [Recordkeeping View] (RTS 23) "Details to be reported as financial instrument reference data" (Now supported in 5.10. See record-ex170.)
      • "admission to trading" - added new trade/tradeHeader/productSummary/admissionToTrading
      • "type of underlying currency" - added reportingRegime/currencyPairClassification
      • "Transmission of order indicator" - added reportingRegime/transmissionOfOrder
    • [Pretrade View] (RTS 6) and (RTS 24) are now supported through a new "orderStatusReport" message in Pretrade view.
    • [Pretrade View] (RTS 6) "Information relating to every initial decision to deal and incoming orders from clients" (See record-ex175.)
    • [Pretrade View] (RTS 6) "Information relating to outgoing and executed orders" (See record-ex176.)
    • [Pretrade View] (RTS 24) "Details of orders" (See record-ex177.)
  • ESMA Product Classification - Now supporting multiple primaryAssetClass codes (See record-ex170.)
• Product Definitions:
  • Added new Product Definition messages. The initial scope is rate products and packages of rate products but it will be expanded to other asset classes. The primary users of these messages are intended to be execution venues that provide trading of such products (for example, SEFs, MTFs, etc) as well as their customers.

The First Working Draft is available on the FpML website in the Specifications section at: http://www.fpml.org/spec/fpml-5-10-1-wd-1 More information on the coverage and timing of future versions can be found in the FpML roadmap: http://www.fpml.org/roadmap.pdf Please send us any comments by filling in the form at http://www.fpml.org/issues The FpML Team