Editing FpML (section)

{{short description|XML-based markup language}}
{{Use dmy dates|date=July 2023}}
'''FpML''' ('''Financial products Markup Language)''' is a [[business information]] exchange [[Technical standard|standard]] based on [[Extensible Markup Language]] (XML) that enables business-to-business [[Over-the-counter (finance)|over-the-counter]] (OTC) [[financial derivative]] transactions online by following [[World Wide Web Consortium|W3C]] standards.<ref name="WhatIs">{{cite web
| last = Rouse
| first = Margaret
| title = FpML (Financial Products Markup Language)
| url= https://whatis.techtarget.com/definition/FpML-Financial-Products-Markup-Language
| date = March 2011
| publisher = [[TechTarget]]
| accessdate = 2019-06-07}}</ref>

The standard is managed by the [[International Swaps and Derivatives Association]] (ISDA) on behalf of a community of [[investment banks]] that make up the OTC derivatives industry.<ref>{{cite journal
| author1=Marc Gratacos
| author2=Karel Engelen
| title=Use of FpML for Risk Evaluation
| date=December 2011
| publisher=[[International Swaps and Derivatives Association|ISDA]]
| url=https://www.cftc.gov/sites/default/files/idc/groups/public/@aboutcftc/documents/file/tac_121311paper_fpml.pdf
| accessdate=2019-06-07}}</ref><ref>{{Cite web |url=https://www.isda.org/book/fpml-5-user-guide-2012-edition-pdf/ |title=FpML 5 User Guide – 2012 Edition |url-access=subscription|publisher=ISDA|access-date=2019-12-19}}</ref> All categories of privately negotiated derivatives will eventually be included within the standard.

FpML is distinct from similar financial standards such as [[Society for Worldwide Interbank Financial Telecommunication|SWIFT]] and [[Financial Information eXchange|FIX]] because it does not specify a network or transport mechanism.