ISDA has published FpML 5.9 Last Call Working Draft

The International Swaps and Derivatives Association, Inc. (ISDA) has published the Last Call Working Draft for Financial products Markup Language (FpML) version 5.9. Changes compared to the FpML 5.9 Third Working Draft (build 3) include: Regulatory Reporting:

• ESMA EMIR - Added ability to specify credit seniority of the trade (see Recordkeeping example events/ex145)
• SEC SBSR - Added additional fields required by Trade Repositories (See Recordkeeping example events/ex145, and sample sequence illustrated in examples ex146, ex147, ex148).
  • See SEC-SBSR-fields-for-TRs-added-to-FpML-5-9-LCWD.xlsx for the list of changes.
• Refinement to valuationReportRetracted - To avoid confusion, the message is now referencing a dedicated lightweight partyTradeInformation type instead of reusing an existing type developed for Withdrawal.
• Improved Recordkeeping and Transparency examples. Additional improvements, including refinements to coding scheme values are planned by the Trial Recommendation.
• The Redesign to regulatory reporting introduced in WD3 for feedback was removed from this draft. This work is currently commented out in the schema but will be removed completely from version 5.9.
  • The RPTWG is assessing how to make this work available. Please return any comments on these new formats to rptwgchair@fpml.org. The formats can be found at http://www.fpml.org/spec/fpml-5-9-3-wd-3/ under the Recordkeeping view.
• Support for Equity Volatility Swap – The recordkeeping and transparency representations for VolatilitySwap and VolatilitySwapTransactionSupplement were published in WD1.
  • The RPTWG and EQDWG are seeking feedback on their regulatory reporting models before the Trial Recommendation. Please send comments or objections to rptwgchair@fpml.org.

Business Process:

• Reintroduced the additionalEvent business event as an extension point for all messages. This was already present in all 5.x versions but was omitted by mistake in versions 5.8 and 5.9.
• Made the withdrawal business event available to most of the business processes but clearing.

Pre-trade View:

• Support for Repo products.

The Last Call Working Draft is available on the FpML website in the Specifications section at: http://www.fpml.org/spec/fpml-5-9-4-lcwd-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