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FpMLTM makes its debut in the FX market

Didcot, England - 22 August 2001 - At the FpML Tools Workshop in London today, RCP Consultants announced the first production FX FpML software.

RCP has developed a set of applications which collect data from major FX trading systems such as Reuters Dealing and EBS and deliver each deal as an FX FpML document. The applications will now be enhanced to match the developing FpML FX standard and will be released as products shortly after the standard is published.

The development of the FpML standard is being driven by the financial industry. It is based on XML (eXtensible Markup Language), the standard meta-language for describing data shared between applications.

Dr Gavin Smith, Global Markets Business Manager at RCP, a member of the FX FpML standards working group commented "RCP is delighted to show its commitment to the industry standard with its early development of compliant tools. The benefits to developers of downstream systems are immense. Anyone thinking of developing an FX FpML client application can start to use real deal data in real time right from the publication of the standard."

RCP’s applications deliver one standard FpML document for each deal, irrespective of the source, which may be Reuters Dealing 2000/3000, EBS, or selected front office systems such as Kondor+. Applications are also under development to deliver FpML deals from other FX trading systems.