Automating OTC Derivatives Operations with FpML

Training course covers the use of FpML in post-trade operations and highlights differences between versions and migration issues.

Overview:

Automating OTC Derivatives Operations with FpML is a two day course that can be customized for managers, operations staff, developers, sales and/or support people involved in post-trade processing of OTC derivatives deals.

Automating OTC Derivatives Operations with FpML covers the use of FpML for all phases of post-trade processing including confirmation and affirmation, amendments, assignments and novations, rate fixing, cashflow reconciliation, settlement, portfolio reconciliation and pricing, option expiry and exercise, trigger and credit events, and corporate actions.

Automating OTC Derivatives Operations with FpML is relevant for people who work with trading platforms, risk management systems, clearing and settlement systems, or other applications that either implement the FpML protocol directly or rely on FpML to communicate information.

Automating OTC Derivatives Operations with FpML Course Outline:

(the outline can vary depending upon customer requirements)

Day 1

• The OTC Derivatives Market
  An overview that discusses the markets and participants and the role of ISDA Master Agreements.
• Industry Initiatives for automating OTC Derivatives Processing
  An introduction to the ISDA automation roadmap and BMA recommendations for interest rate and credit default swap processing. The hedge fund sponsored Data Standards Working Group (DSWG) is also discussed.
• History of FpML
  A review of the evolution and development of FpML.
• FpML 4.0 and beyond
  Discussion of the FpML Schema Architecture up through FpML 4.2.
• FpML Product Coverage
  Instruments supported by FpML are presented.
• Pricing and Risk
  Support for pricing and risk reporting is reviewed.
• Implementing FpML
  An introduction to creating and parsing FpML. Examples are presented in Java and C#.
• FpML and FIX
  Overview of how FpML is used with the FIX and FIXML protocols.

Day 2

• Shared Components within FpML
  Components used across product types are presented.
• The FpML Messaging Framework
  How the FpML messaging framework fits into post-trade processes.
• FpML Validation
  A look at the FpML validation rules.
• Extending and Customizing FpML
  The FpML guidelines for extension along with examples are presented.
• Allocation and Confirmation in FpML
  A detailed look at FpML support for trade execution and immediate post-trade events.
• Post-Trade Changes in Deal Specification
  A detailed look at FpML support for amendment, novation/assignment, termination, option expiry and exercise and credit events.
• Servicing Events
  A detailed look at rate fixing, payments and valuation.
• Using FpML
  Examples are presented from sellside and buyside firms as well as service providers.
• FpML Tools
  A review of current products and services that support FpML

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