Imported from previous forum
What is the position of FIXML versus FpML ?
What is the position of FIXML versus FpML ?
Juxtaposed 
(Couldn’t resist)
I think others will provide an informative response.
FIXML can include an FpML payload.
Some firms actually exchange FpML messages over a FIX session layer and the FIXT.1.1 layer is especially useful for this purpose.
FIX and FpML cooperate as much as possible. We compete in others. The area of reporting is being contested across multiple protocols. ISDA and FPL work closely as part of a Standards Coordinating Group trying to manage overlap throughout the business life cycle. My opinion is that ISDA and FPL enjoy a good working relationship.
As a general rule FpML is for OTC (non-exchange traded) products. FIX/FIXML covers listed markets in general. Exceptions exist of course to this broad division.
As OTC markets begin to mimick existing listed markets in terms of business processes the overlap between FIXML and FpML increases.
Both FIX (meaning the FIX Protocol Ltd. organization) and ISDA participate in the ISO 20022 process which is capturing a common repository of business messages.
Others please provide your input, opinions, and thoughts…
What is the position of FIXML versus FpML ?
From what I learned FpML is comparatively weaker on (or even lack) modeling trade life cycle. FIXML does it well in modeling the various stages (state machine) of an order via message, ExecTyp and Stat attribute.
Alan
Hi Jim,
I am looking for a data dictionary for FpML, similar to the one for FIX. And/Or a FIX to FpML dictionary depicting matching fields and their possible values.
Any Idea where to find it? the schema on the fpml.org site arent helpful.
Thanks, David