Buy side slow on FpMLtake-up

LONDON - One would be forgiven for thinking that Financial Products Mark-up Language (FpML) is another information exchange standard that has been superseded or has simply run out of steam, given the protocol's low media profile in the wake of the fanfare surrounding the release of Fix version 4.4 in mid-February.

But FpML.org - the protocol’s steering committee, comprising a standards committee appointed by the International Swaps and Derivatives Association (Isda) and six working groups - says development of the standard has been encouraging.

Karel Engelen, FpML project manager and Isda policy director, says the industry has started to show traction on the FpML front thanks to Swapswire, a consortium-owned, London-based derivatives trading electronic communication network that uses the FpML protocol