The International Swaps and Derivatives Association (ISDA) has published its recommendation for version 5.2 of FpML, the industry data standard for OTC derivatives, suggesting added support for clearing messages.
An ISDA recommendation is the final step before the release of a new version.
The version 5.2 recommendation covers physical settlement of interest rate options, a recent supplement to the ISDA 2006 definitions, and additional validation rules for foreign exchange.
Work on regulatory and public reporting, a main focus area for the industry and developed in earlier working drafts of 5.2, has been withdrawn from the latest recommendation while the group waits for the publication of the final reporting rules from the US regulators.
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