Imported from previous forum
After inital contact with the futures and options working group, I’m posting this question to see how much interest there is in the use of FIX messages for the confirmation of OTC derivative transactions.
I’d also be interested in people’s experience of using FpML (or anything else) for the same purpose, and views on how FIX and FpML should work together to define a single standard approach.
Regards
Jane
We’re working on OTC derivative transactions, including confirmation over FIX messages. But we’re at the starting stage, we would like to learn from any experienced people and group. Of course we’d like to share with you too.
David
> After inital contact with the futures and options working group, I’m posting this question to see how much interest there is in the use of FIX messages for the confirmation of OTC derivative transactions.
>
> I’d also be interested in people’s experience of using FpML (or anything else) for the same purpose, and views on how FIX and FpML should work together to define a single standard approach.
>
> Regards
>
> Jane
>
> After inital contact with the futures and options working group, I’m posting this question to see how much interest there is in the use of FIX messages for the confirmation of OTC derivative transactions.
>
> I’d also be interested in people’s experience of using FpML (or anything else) for the same purpose, and views on how FIX and FpML should work together to define a single standard approach.
>
> Regards
>
> Jane
>
Each standard is sufficiently complex that merging the two would be incredibly complex if not impossible, without major changes. In any case, they cover different business areas.
There’s no reason why FpML and FIX can’t work alongside each other and there are some
forward looking banks starting to do this. The technology exists NOW. Microsoft’s BizTalk platform supports both FIX and FpML adaptors.
Unfortunately, few banks have done anything to take advantage of or drive forwad FpML, except having their name added to the participants list.
Jane,
did you get any results on this question ? We are looking inrested in electronic confirmations in this area but the lack of standards so far makes any move on this difficult to impossible.
Best Regards,
Marcelle
Marcelle von Wendland MSI
UBS AG
Global Asset Mgmt
B&IT Asset Mgmt
Gessnerallee 3-5
8098 Zürich
Switzerland
Email…: Marcelle.von-Wendland@ubs.com
Tel…: +41 1 2345710
Fax…: +41 1 2354639
> After inital contact with the futures and options working group, I’m posting this question to see how much interest there is in the use of FIX messages for the confirmation of OTC derivative transactions.
>
> I’d also be interested in people’s experience of using FpML (or anything else) for the same purpose, and views on how FIX and FpML should work together to define a single standard approach.
>
> Regards
>
> Jane
>
[ original email was from Jim Northey - jnorthey@lasalletech.com ]
FIX 4.4 Draft#2 Volume 1 contains a specification on how to reference an FpML instrument from within the FIX Instrument Component Block. The draft is now available on the FIX website for review.
> After inital contact with the futures and options working group, I’m posting this question to see how much interest there is in the use of FIX messages for the confirmation of OTC derivative transactions.
>
> I’d also be interested in people’s experience of using FpML (or anything else) for the same purpose, and views on how FIX and FpML should work together to define a single standard approach.
>
> Regards
>
> Jane
>
[ original email was from Robert Stowsky - rstowsky@brookpath.com ]
The FpML 4.0 draft specification, which is expected to be released shortly, will include a messaging framework that has message types defined for trade affirmation and confirmation.
> FIX 4.4 Draft#2 Volume 1 contains a specification on how to reference an FpML instrument from within the FIX Instrument Component Block. The draft is now available on the FIX website for review.
>
>
> > After inital contact with the futures and options working group, I’m posting this question to see how much interest there is in the use of FIX messages for the confirmation of OTC derivative transactions.
> >
> > I’d also be interested in people’s experience of using FpML (or anything else) for the same purpose, and views on how FIX and FpML should work together to define a single standard approach.
> >
> > Regards
> >
> > Jane
> >
>