About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

ISDA Releases FpML Survey

Subscribe to our newsletter

The International Swaps and Derivatives Association, Inc. (ISDA) today released the results of its Financial products Markup Language (FpML) survey. The survey was designed to gauge the current use of FpML and planned applications going forward. FpML is the freely licensed business information exchange standard for electronic dealing and processing of privately negotiated derivatives and structured products.

The survey shows a high adoption rate for trade capture and confirmation services, 95 percent, which is in line with expectations. Responses suggest that there is a high level of use for internal straight through process (STP): between front office systems and from front office systems to middle office and confirmation systems.

The highest number of average daily FpML messages reported by a firm is 3.255 million. Version 4.6 is the one most widely used. There is significant interest in Version 5.1, the most recent version, for which the Recommendation will be published later in February.

For future usage, respondents would like to see further expanded product coverage for FX and commodities and additional support in the areas of collateral and clearing. Expanding beyond the current product scope, Repos is the asset class that respondents would most like to see covered by FpML. The adoption of FpML in relatively new areas, such as commercial loans, is encouraging.

The survey captured the answers from 43 respondents; 20 classified as financial firms and 23 as non-financial institutions such as vendors, data repositories or clearing houses. Of the financial firms surveyed, 74 percent execute more than a thousand OTC derivative trades on a weekly basis.

This FpML survey is the first such study spearheaded by ISDA. The survey will serve as an additional tool for the FpML Standards Committee to collect information and evaluate next steps in the development of the standard. ISDA intends to conduct the survey on an annual basis.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: In data we trust – How to ensure high quality data to power AI

Artificial intelligence is increasingly powering financial institutions’ processes and workflows, encompassing all parts of the enterprise from front-office to the back-office. As organisations seek to gain a competitive edge, they are trialling the technology in variety of ways to streamline and empower multiple use cases. Some are further than others along the path to achieving...

BLOG

AI is Helping to Solve New ESG Data Challenges: ESG Briefing Review

The peculiar demands that ESG data integration places on capital markets participants requires powerful techniques that are increasingly being provided through artificial intelligence, A-Team Group’s recent ESG Data and Tech Briefing London heard. From data quality monitoring and analytics to supply chain analysis and investment management, AI-based tools are already offering automated solutions to some...

EVENT

RegTech Summit New York

Now in its 9th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulatory Data Handbook 2024 – Twelfth Edition

Welcome to the twelfth edition of A-Team Group’s Regulatory Data Handbook, a unique and useful guide to capital markets regulation, regulatory change and the data and data management requirements of compliance. The handbook covers regulation in Europe, the UK, US and Asia-Pacific. This edition of the handbook includes a detailed review of acts, plans and...