FOR RELEASE 8 DECEMBER 2003
Global Electronic Markets Announces Name Change and New Services
Former Gem Soup will increase focus on FpML advisory services.
8 December 2003 - New York and London
This week the former Gem Soup LLC announced increased support for FpML-related services, and a corresponding name change. Global Electronic Markets, LLC will provide advisory services to institutions wishing to adopt FpML, and will continue to develop and support its widely used FpML tools.
Brian Lynn, CTO of Global Electronic Markets, said "Today's changes reflect the maturation of the FpML marketplace. Derivatives industry firms are no longer just playing with FpML - now they are addressing real business problems with it." Mr. Lynn is speaking at ISDA's annual FpML conference in London later this week.
GEM's FpML advisory services include supporting organizations wishing to develop and refine FpML-based standards. GEM provides interface requirements analysis, specification design and documentation, and training and mentoring services. GEM also provides technology management consulting related to electronic communication in the derivatives industry. In addition, GEM will assist organizations to reconcile derivative trade portfolios using its industry-leading FpML tools.
GEM Development supports flexible tools for working with FpML. GemScribe is an FpML trade entry and display tool, distributed to ISDA members as the FpML viewer/editor. GemDelta is a flexible, configurable, and fast tool for matching FpML trades. It supports all FpML products and can match and reconcile over a thousand FpML trades a minute, comparing every field. GEM Development also develops tools for storing FpML, interfacing FpML to existing systems, and processing FpML messages.
Financial Products Markup Language is the official protocol of ISDA (the International Swaps and Derivatives Association) for describing privately negotiated financial derivative transactions.
About Global Electronic Markets, LLC
Global Electronic Markets LLC provides services and products for firms using FpML. GEM's services include standards development and advice, technology management consulting, and portfolio reconciliation services using GEM's FpML toolset. GEM Development supports a set of products focused on enabling the creation, reconciliation, transformation, and storage of FpML and related standards. Brian Lynn, GEM's CTO, is an editor of the FpML standard, a member of the FpML Standards Committee, and chair of the FpML Pricing and Risk working group. GEM is based in New York City and Ulster County, NY, Please see http://global-emarkets.com for more information about the company.
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