FpML Classification

Deriving information from XML structure

The design of most FpML products allows them to represent a range of commonly traded variants. Determining the specific variant present in document requires understanding how the FpML structures are used.

The classification tools implemented in the commercial Java and .Net toolkits provide a way to automatically categorise parts of an FpML document, like a trade definition, against customisable rule sets to determine information such as the product type.

The example FpML product rule provided with the toolkit implements a heirarchical classification system that allows applications to derive useful behaviour characteristics from the identified product type (i.e. determining options from non-options, interest rate products from credit derivatives, etc).

Regulatory Classification

Applying Standard Product Taxonomies

As result of the credit crisis the World's regulators are imposing new systems of reporting for derivatives transactions. Many of the proposals require that an indication of asset class, product type and product identity are included along with the trade economics.

The classification tools provide an easy way of deriving this information consistently in existing FpML based systems with minimal code changes. In addition we are working on tools for determining product identity such as the 'UPI' specified by the US CFTC.

Online Demonstration

Try product classification for yourself

Select an FpML document and press the 'Classify' button to see the results of document classification against the example FpML product heirarchy and proposed regulatory schemes.

ISDA asset class, taxononmy and UPI codes will only be generated for FpML 5 confirmation view documents.

What would you like to classify?

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