Financial Product Markup Language (FPML or FpML) is a standard based on eXtensible Markup Language (XML) that is specifically geared toward the handling of over-the-counter financial derivatives. This freely licensed standard allows companies to consistently communicate regarding interest rate swaps, forward rate agreements and other aspects of derivative trading.
Experts explain that Financial Product Markup Language enables system-to-system communication and business-to-business transactional knowledge. Financial Product Markup Language helps route the same data between different types of applications, and helps make derivatives trading clearer. There is the intent to support risk analysis and other aspects of derivatives trading. This type of specific purpose-driven software is based on a greater idea of eXtensible Markup Language, that objects and items can be fully described using this type of code in order to set up sophisticated models or virtual operations.
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By: Devin Partida | Editor-in-Chief for ReHack.com
By: Devin Partida | Editor-in-Chief for ReHack.com
