The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

ISDA Releases FpML Survey

Share article

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.

Related content

WEBINAR

Upcoming Webinar: Entity identification and client lifecycle management – How financial institutions can drive $4 billion in cost savings

Date: 21 January 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes A new model in Legal Entity Identifier (LEI) issuance has created significant opportunities for financial institutions to capitalise on their KYC and AML due diligence. By becoming Validation Agents and obtaining LEIs on behalf of their clients, financial institutions...

BLOG

ANNA Progresses Issuance of ISINs for Digital Assets, Notes Addition of Digital Token Identifier Standard

As institutional interest in digital assets continues to rise and the Association of National Numbering Agencies (ANNA) makes plans to use International Securities Identification Numbers (ISINs) to identify these assets, we caught up with Stephan Dreyer, managing director of ANNA, to review progress. He sets the scene, saying: “We are seeing growing issuance of traditional...

EVENT

RegTech Summit Virtual

The RegTech Summit Virtual is a global online event that will be held in May 2021 with an exceptional guest speaker line up of RegTech practitioners, regulators, start-ups and solution providers to collaborate and discuss innovative and effective approaches for building a better regulatory environment.

GUIDE

Connecting to Today’s Fast Markets

At the same time, the growth of high frequency and event-driven trading techniques is spurring demand for direct feed services sourced from exchanges and other trading venues, including alternative trading systems and multilateral trading facilities. Handling these high-speed data feeds its presenting market data managers and their infrastructure teams with a challenge: how to manage...