ISDA Announces FpML Services; Releases FpML version 4.2 Last Call Working Draft and Version 3.0 of the FpML Editor/Viewer.

SINGAPORE -- At its Annual General Meeting today, the International Swaps and Derivatives Association (ISDA) announced that it will provide Financial Products Markup Language (FpML) services to support the use of FpML in the industry. The services include advice and support services around FpML, as well as custom-tailored training programs to complement the existing FpML suite of training courses.

FpML is the freely licensed business information exchange standard for electronic dealing and processing of privately negotiated financial derivatives instruments. It establishes the industry protocol for sharing information on, and dealing in, financial swaps, derivatives and structured products over the Internet. It is based on XML (Extensible Markup Language), the standard meta-language for describing data shared between applications.

In addition, ISDA also released a Last Call Working Draft for version 4.2 of FpML.

Version 4.2 includes enhancements in several of the asset classes, including buy-side specific requirements. Credit Derivatives coverage has been expanded with CDS baskets and support for index tranches. The business process work has been expanded by the introduction of Cash Flow matching coverage. Buy-side specific additions include the coverage of allocations, support for accounts and the representation of multiple party roles.

The Association also announced version 3 of the FpML editor/viewer, a tool developed in collaboration with Global Electronic Markets. The editor viewer covers version 4.1 of the standard, including the messaging framework. The association is committed to keep the tool updated in line with expansions in the standard.

About ISDA

ISDA, which represents participants in the privately negotiated derivatives business, is the largest global financial trade association by number of member firms. ISDA was chartered in 1985, and today has approximately 700 member institutions from 50 countries on six continents. These members include most of the world's major institutions that deal in privately negotiated derivatives, as well as many of the businesses, governmental entities and other end users that rely on over-the-counter derivatives to manage efficiently the financial market risks inherent in their core economic activities. Information about ISDA and its activities is available on the Association's web site: www.isda.org. Information about the FpML standard, the specifications and the different working groups can be found on the FpML web site: www.fpml.org.

(R) ISDA is a registered trademark of the International Swaps & Derivatives Association, Inc.