Group Information

Mission: To maintain and extend the FpML standard’s coverage of OTC derivative business processes. Focus will be on areas where new industry services being developed or new business processes are being standardized. The emphasis will be on business processes affecting single trades or positions and represented in the FpML “Confirmation” view. Business processes affecting multiple trades or positions are addressed in the FpML Reporting and Collateral working groups. The main priority will be on FpML version 5.0, although issues relating to previous FpML versions may occasionally be discussed. Specific objectives will be defined by the working group, but it anticipated that initial priorities will include option exercise processes and credit limit warning (e.g. for clearing or trading) processes.

Chairs of Working Group

Brian Lynn (GEM)

Participants

Group Charter

Scope: The Business Process Working Group will have the following objectives:

• Define messages to support new business process areas as requested by its members. Currently this is anticipated to include at least credit limit warning (e.g. for trading or clearing) and option exercise processes.
• Maintain existing “confirmation view” business processes as required by user feedback. Some areas where work may be required include new or recently changed processes such as clearing and allocation.
• Working with the FpML Architecture working group, maintain the FpML messaging framework.

This group will replace the work of the following FpML groups:

• Modeling Task Force
• prior Business Process Working Group

This group will liaise with the following FpML working groups:

• Architecture WG – for the messaging framework
• IM/Custodian WG – for feedback on business processes affecting IMs and custodians
• Reporting WG – for feedback on the messaging framework
• Collateral WG – for feedback on the messaging framework

Meeting Schedule: The group will initially meet alternate Fridays at 11 AM NY / 1600 UK for one hour. This schedule may change after a full working group is convened. A group discussion list will be used to manage group communication and to provide an archive of discussions and decisions. Rules of Operation: The working group will adopt the FpML Working Group Rules of Operation. These outline best-practices for meetings, managing member participation, reaching group consensus and voting. Estimated time commitment from Participants: Members should be prepared to commit approximately 2-3 hours per month for meeting participation and document review. Full members must have the agreement and support of their management before signing up to the Working Group. Target Participants: Business analysts, technical architects, business specialists

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