FOR IMMEDIATE RELEASE
ISDA Announces Agreement for FpML editor based on Gem Soup Technology
Product to be distributed free to ISDA members
24 February 2003 -- New York
Today ISDA, the International Swaps and Derivatives Association, is announcing that it has entered into an agreement with Gem Soup LLC, to provide an FpML trade entry and editing tool for the FpML community. The agreement covers key FpML products, including Interest Rate Swaps, Swaptions, and Caps/Floors, and FX products. The tool is expected to be available at no cost to ISDA members and at moderate cost to non-ISDA members.
The FpML editor will allow FpML trades to be created from scratch, loaded from a local file, or loaded from the World Wide Web. Based on the Internet Explorer web browser and Microsoft XSLT, the editor provides high quality editing features, such as drop-down lists, radio buttons and checkboxes, and collapsing/expanding sections to support editing of complex trades. FpML trades created in the editor can be saved to a local file or uploaded to a web server. The editor is template-driven and uses CSS stylesheets for formatting to allow easy customization and rapid incorporation of new products and product features.
Technology for the editor will be provided by Gem Soup LLC. Gem Soup, the world's first FpML community, focuses on helping firms to create, exchange, and process FpML and related financial standards. Gem Soup technology is licensed on a community source basis to allow participants to customize it for their own needs and to share their work with other firms where this will assist inter-firm communication. Gem Soup plans to offer enhanced versions of the FpML editor, as well as support and customization services. In the near future Gem Soup also plans to offer tools and support for producing FpML from existing trading systems, for archiving and distributing FpML trade documents, and for matching and comparing FpML documents.
ISDA will provide more information about the availability of the FpML editor in upcoming weeks. Please email: email@example.com to request to be notified when the FpML editor is available.
Karel Engelen FpML Project ManagerISDA
About Gem Soup LLC
Gem Soup LLC is the world's first collaborative development community for FpML. Named after the famous legend about collaboration in the finance industry, Gem Soup provides a new way for developers to share the technology needed to integrate derivatives processing across enterprises. Gem Soup supports a set of products focused on enabling the creation, validation, matching, transformation, and storage of FpML and related languages. It uses an innovative community source model for sharing the development effort and allowing members to customize the tools for their own use. Based in New York City and Ulster County, NY, Gem Soup leverages the Internet to allow collaboration from anywhere. Please seehttp://gemsoup.com for more information about the company, the tools, the Gem Soup community process, and the legend of the Gem Soup.
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Media contact:Brian Lynn,
Founder and CTO