Isda pushed for electronic documentation of complex swaps

"Work on the FpML standard is advancing rapidly," said Robert Pickel, Isda chief executive. Pickel said upcoming versions of FpML will focus on equity and credit derivatives, as well as messaging.

The recommendation reflects consensus within FpML as represented by approval from its standards committee. Pickel told RiskNews: “We are working on a version of the master agreement in FpML language – it’s a much better way of going back and forth on an agreement of amendment of an agreement.”