Enables automation of complex financial transactions across organizational boundaries using latest ISDA standards
Dublin, Ireland, 8th July, 2005 - PolarLake, a leader in standards-based incremental integration, today announces ‘out-of-the-box’ support for Financial Products Markup Language (FpML) version 4.1, the International Swaps and Derivatives Association’s standard for the electronic dealing and processing of financial derivatives instruments. PolarLake Integration Suite is the world’s first Enterprise Service Bus (ESB) to offer full support for FpML 4.1, enabling the rendering, navigation and run-time mediation, transformation, enrichment and routing of FpML documents, and supporting the complex data structures that are unique to the FpML standard.
PolarLake Integration Suite is a leading, standards-based solution for the delivery of enterprise integration based on the ESB architecture. By adding support for FpML 4.1, the product suite is now able to handle the most complex XML schemas in order to meet the real-world requirements of financial services organizations. PolarLake is unique in providing full support for complex FpML structures, including Identity References, Substitution Groups and XSI Types – enabling these to be rendered and navigated at design time, and thus allowing full mediation and transformation of data contained within FpML messages.
"Our support for FpML 4.1 underlines our commitment to solving complex customer issues, and specifically those within the financial services industry," said Ronan Bradley, CEO of PolarLake. "Processing FpML 4.1 requires support for a number of sophisticated data structures. PolarLake is the only integration product on the market able to support this key data format, and thus the only product suitable for the delivery of integration solutions incorporating FpML."
FpML 4.1 provides a protocol for sharing information on, and dealing in swaps, derivatives and structured products. It provides a means to exchange descriptions of complex trades between financial institutions, and internally in STP flows, and thus enables the rapid settlement of these trades – reducing error rates, minimizing rebooking, and driving down the costs associated with derivatives trading. The efficiency gains FpML can deliver have led to widespread adoption and FpML’s emergence as a de facto standard in the financial services industry.
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