The DataXtend Browser for Financial products Markup Language (FpML), now available by Progress, allows developers and business analysts to more easily go through FpML syntax to enhance regulatory compliance, boost efficiency, and lower costs. According to Progress, FpML is "an XML-based message standard used widely in the OTC (over the counter) derivatives industry and licensed by the International Swaps and Derivatives Association (ISDA). FpML is used as the standard language for OTC derivatives transactions to facilitate communication between systems and counterparties." Learn more about the new broswer, which is free to download now.

Because FpML is updated several times a year, financial institutions have trouble finding and adapting complex data models associated with it.  With this new product, companies will be able to “improve compliance with the FpML standard used throughout the OTC derivatives industry; additionally, they can improve organizational efficiencies and FpML adoption through a better understanding of FpML relationships,” according to Progress.  

Another Progress solution now available is the Progress OTC Derivatives STP data interoperability solution, which allows companies to strengthen their straight-through processing rates and lower risks and costs of failed transactions.

Learn more about Progress' solutions now!