Isda and Fix join forces

The International Swaps and Derivatives Association and messaging service provider Fix Protocol have formed a joint working group to share information on the development of their respective FpML and Fix messaging standards.

The Isda-FpML working group will look to develop a common set of guidelines to ensure the integrity of both protocols and to promote common industry practice. It also aims to create a common set of processes for transactions that apply to both Fix and FpML-supported instruments, which includes support for online FX trading.

Separately, Isda has issued a call for participation in a new working group that will extend FpML to create a cross-product framework for supporting pricing, valuation and risk reporting. The group will define cross-asset-class mechanisms for reporting financial derivatives trade values, price sensitivity and for recording and transmitting market input variables needed to price a derivatives trade.

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