Hi,

Further to Guys mail, we in Merrill Lynch have implemented a SwapsWire
feed. The core part (the translator) is currently being used for some
simple trade capture, so we are already using FpML 1.0. I have been
supervising technical and archtiectural parts of MLs SwapsWire feed. We
are still waiting for the messaging part to get sorted out, but that
is another story!

We are in the process of extending this for FpML 2.0 and have the basic
infrastructure in place for it. We have a use for it internally for
content based routing for the flow business, and I am in negotiations
at a global level to use this for front/back office communication e.g.
confirmation generation. Again, we have translation work in place and
are leveraging that.

However, we could really do with a push on the credit derivatives side:
if this was somewhere in the spec/in the near future it would have massive
cross business area benefits.

I also concur with Guy about little and not so little differences
between FpML 1.0 and 2.0 which do not retrofit as easily as one would
want eg. it makes them a bit awkward to fit them in exactly the same
architectural framework, but it is possible to do so.

Regards,
Andrew Addison


-----Original Message-----
From: Guy Gurden
To: fpml-irdprod@yahoogroups.com
Cc: fpml-issues@yahoogroups.com; Mike Davies; fpml-coord@yahoogroups.com;
steven.lord@...
Sent: 06/06/2002 05:25
Subject: RE: [fpml-irdprod] FpML 2.0 - Proposal To Move To Recommendation

Steven,

At SwapsWire we are using the FpML 1.0 Recommendation and components
from FpML 2.0. We currently limit ourselves to the Swap product but are
making extensive use of the FpML 2.0 'earlyTerminationProvision'
component and the associated mandatory components of its sub-components
(e.g. mandatory/optional early termination, european exercise, bermudan
exercise, american exercise, cash settlement). In the attached Word
document I have identified some minor changes we found necessary which I
think are worth considering for incorporation into the Trial
Recommendation.

I have also raised one issue relating to the inconsistency of naming
between FpML 2.0 and the 2000 ISDA Definitions, i.e. Bermuda (ISDA) vs
Bermudan (FpML).

Regards
Guy

-----Original Message-----
From: steven.lord@... [mailto:steven.lord@...]
Sent: 05 June 2002 15:47
To: fpml-irdprod@yahoogroups.com
Subject: [fpml-irdprod] FpML 2.0 - Proposal To Move To Recommendation


At the last Standards Committee meeting there was alot of feedback of
implementations of FpML 2.0. As a result it being proposed to move FpML
2.0 to Recommendation. Are there any objections from anyone in this
group to such a move ? If so please state the reasons why we should not
move to Recommendation.

Steven

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