Group Information

Mission: The FpML cross asset class product working group will further develop and maintain the FpML product architecture. The working group will deal with open product questions related to specific asset classes. In addition the group will be responsible for any product model extensions. Asset class specific threads or working groups can be formed by the cross product working group when required.

Chairs of Working Group

John Booth (Osttra)

Participants

See section 1 of a particular FpML Recommendation for the list of contributors.

Group Charter

Scope:

1. Product maintenance and maintenance of the product related coding schemes across all asset classes.
2. Develop asset class agnostic product structures where appropriate.
3. Maintenance and review of product definitions, documentation and examples.
4. Review of the product models to facilitate usage in DLT environment and the ISDA Common Domain Model.

The working group is a standing working group, not linked to a particular FpML version.

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Book of work: High priority items : Medium priority items (due to dependencies) :

1. Review and address the impact of the changes in the FX and IR legal documentation on the FpML FX and IR structures.
   • This work can be done in alignment with CDM.
2. Review and address the impact of the changes in the Commodity Sub-Annex A (CRP).
3. Support for securities financing life cycle events in alignment with the securities financing life cycle events work in CDM.
   • Events like repricing, repayment, etc. need to be covered in FpML to support the FpML Repo and Sec. Lending product models.
4. Development of a Product-agnostic TRS framework (in collaboration with the AWG).
   • High interest on Sell- and Buy-side firms
   • Bloomberg is working on their internal solution and prepared to share their work with the broader community.
5. Update Documentation to reflect the 2021 IR definitions and 2014 Credit Definitions, align this work with ISDA digitalization.
6. Develop reference documentation to help clarify how terms and concepts are defined and understood across asset classes, align this work with ISDA digitalization.
   • This links up with the ISDA digitization work.
7. Improvements of post-trade events for Portfolio Swap
   • Interest in the industry

Low priority items – (maintenance related) :

• Enhancements to InstrumentTradeDetails
• Standardization of FpML Payment Amounts where appropriate

Delivered

• Review and address the impact of the changes in the 2021 Definitions and current market practice on the FpML IR structure and develop a paper with examples that describe the impact of some of the changes on FpML

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