ISDA details plan for automated derivatives processing
Chicago -- At the annual general meeting of the International Swaps and Derivatives Association (ISDA), executives released the association’s action plan for the automation of over-the-counter (OTC) derivatives processing.
The document, Moving Forward: An Action Plan, builds on the goals released in a December 2003 report, Going Forward: A Strategic Plan (see Operational Risk, January 2004, page 11). The strategy outlined by ISDA centres on the industry adopting a standard, secure framework for exchanging data that uses FpML, the protocol for electronic trading of OTC derivatives.
Implementation ideas include plans
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