FpML

Compliance with FpML Standards Requires Efficient Tools

As the volume and complexity of traded derivatives increases, project delays and costs for post-trade manual processing have skyrocketed. A recent study suggests that less than 50 percent of OTC derivatives processing has been automated. The same study finds that up to 80 percent of trade confirmations contain errors.

Clearly the current paper-intensive environment holds great risks for market participants. Automation of Financial products Markup Language (FpML) data communications can help improve the validity of data and automate the generation of data for different client formats. For instance, instead of dealing with the added expense and project delays resulting from hand-coding and testing schemas, transformations, and validation rules, developers can use model-driven tools to import rich FpML data models, configure changes, and specialize data for various constituents. For financial institutions the world over, Progress Software provides the automated tools to help achieve compliance with FpML standards and manage their lifecycle.

Progress Data Interoperability Solutions Support FpML Validation and Management

Progress data interoperability products are open and standards-based development tools for efficiently building FpML messaging data services, which improve the integrity of data sent between applications. By simplifying financial messaging development and maintenance, we makes it easy to model, test and deploy reusable data services for FpML that can parse, validate, transform and enrich FpML messages.

With Progress solutions, financial institutions can:

• Use reusable model-driven data services for FpML to complete messaging projects on schedule.
  
  
• Avoid the risk of failed transactions and the maintenance costs they incur.
  
  
• Reduce the burden of staying up-to-date with standards by in-sourcing FpML industry standards and updates from Progress.
  
  

We provide robust Standards Libraries to address requirements for various FpML messaging schemas and dialects, including:

• Depository Trust & Clearing Corporation (DTCC), Deriv/SERV Trade Information Warehouse (TIW);
  
  
• International Swaps and Derivatives Association (ISDA) FpML standards;
  
  
• Markit Wire; and
  
  
• SWIFTNet FpML.
  
  

Progress Software also provides solutions for enterprise application integration, ESB integration, OSS/BSS integration, complex event processing, SWIFTNet services as well as tools for building a common data model that will jump start your use of standards in data services.