FpML Document Validation

Ensuring FpML documents make business sense

An XML document that validates against its DTD or XML schema may still contain a number of 'semantic' errors. An XML parser is capable of ensuring that individual values match thier defined data type and that internal references are satisfied but its does not check relationships between data values (e.g. effective date must be before termination date) or the overall document structure.

The design of the FpML grammars makes them far too complicated to be fully validated by the XML parser alone and some additional technology is required to implement the business rules which define the additional semantic constraints.

The validation portion of the HandCoded toolkit implements all the business validation rules defined by ISDA for FpML 4.0, 4.1 and 4.2. Where appropriate these rules have been adjusted to allow them to apply to earlier FpML releases.

In additional we have provided data type validation for DTD based documents, additional referential integrity checks and support for all standard FpML code value schemes (and a few others like ISO country codes).

The validation toolkit provides populated rule sets containing all the standard and extended rules which can be customised and combined with custom user rules to make them specific to a particular institution or system.

Online Demonstration

Try business validation for yourself

Select an FpML format XML document and press the 'Validate' button to see the results of XML syntax and FpML business rule validation.