Tuesday, October 12, 2010 – FIX Protol Ltd. (FPL), Financial Products Markup Language (FpML), International Securities Association for Institutional Trade mmunication (ISITC), Society for Worldwide Interbank Financial Telemmunication (SWIFT), XBRL (Extensible Business Reporting Language) US and Financial Information Services Division of SIIA (FISD), today published their updated Investment Roadmap. The roadmap’s purpose is to provide market participants nsistent direction when using financial services messaging standards by visually mapping the protols to their appropriate business processes across asset classes.
The Investment Roadmap, initially introduced in 2008, lays the groundwork for moving towards one mmon business model, ISO 20022, while allowing the respective standards anizations to ntinue maintaining their existing protols – FIX, ISO, FpML and XBRL (the newest addition). The Investment Roadmap presentation and related FAQ are now publicly available for download from the ISO 20022 web
mmenting on this initiative, Gary Probert, Managing Director, Citi Securities and Fund Services, and Chair of ISITC, stated, “The Investment Roadmap is reflective of how, through the llaboration of industry associations, we are able to provide guidelines that can help bring best practices to the industry as a whole. ISITC members and the broader industry will benefit from the ISO 20022 developments outlined in the Roadmap which we are nfident will improve STP across securities market processes.”
Through llaboration and by leveraging the expertise of each of the standards anizations in their respective asset classes and business process areas, the group looks to improve interoperability, save sts of maintaining multiple syntaxes within the same area of the transaction lifecycle, provide stability, and decrease risk for the international financial services mmunity. In addition to providing the industry with a view of the ways in which existing messaging standards are currently utilized, the Investment Roadmap defines an agreed path for future initiatives by identifying gaps as well as areas of overlap.
Gerard Hartsink, Senior Executive Vice President, ABN Amro, and nvenor of the ISO 20022 Registration Management Group (RMG), mmented “The Investment Roadmap is an important step in the harmonization of the Securities industry using the ISO 20022 business model and domain specific syntaxes. It is an idea that can be leveraged by other business areas to support their plans for ISO 20022 interoperability and adoption.”
The anizations will ntinue to meet on a regular basis to ensure the Investment Roadmap ntinues to aurately depict the current environment as well as future standards development.
About FISD
The Financial Information Services Division (FISD) of the Software and Information Industry Association (SIIA) is a global neutral forum that has been serving the financial information industry for more than 20 years. FISD is mprised of 140 member mpanies that regnize that market data distribution and efficient trade execution require a high level of nsistent and predictable service - all of which are dependent on the close operation of many independent anizations and systems, which is why industry stakeholders support FISD as the forum of choice to identify and resolve the business and technical issues that affect the administration, distribution and utilization of market data. For more information, see .
About FPL
FIX Protol Limited (FPL) is the not-for-profit industry association that owns, develops and promotes the FIX Protol messaging standard. Nearly 250 firms from across the global buy-side, sell-side, exchange/E/ATS/MTF, regulatory, association and service provider mmunities are members of FPL. The Financial Information eXchange ("FIX") Protol is the de-facto messaging standard for pre-trade and trade mmunication globally. Having achieved significant levels of adoption within the Equity markets, it is now experiencing horizontal expansion across the Derivatives, Foreign Exchange and Fixed Inme markets. Further to this, it has expanded vertically into the post trade space, supporting Straight-Through-Processing (STP) from Indication-of-Interest (IOI) to Allocations, nfirmations, and Regulatory and other reporting. For more information, see .
About FpML
FpML (Financial products Markup Language) is the freely licensed business information exchange standard for electronic dealing and processing of privately negotiated derivatives and structured products. It establishes the industry protol for sharing information on, and dealing in, financial derivatives and structured products over the Inter It is based on XML (Extensible Markup Language), the standard meta-language for describing data shared between applications. The standard is developed under the auspices of the International Swaps and Derivatives Association (ISDA), using the ISDA derivatives documentation as the basis. For more information, please visit .
About ISITC
ISITC (International Securities Association for Institutional Trade mmunication) is a non-profit industry group in which securities market participants (broker/dealers, investment fund managers, banks, market infrastructures and vendors) llaborate to develop mmon approaches for mmunication to process financial transactions (for example, buying and selling securities.) This llaboration includes defining how the adoption and use of industry-wide standards and nsistent data can facilitate this mmunication. For more information, please visit .
About SWIFT
SWIFT is a member-owned operative that provides the mmunications platform, products and services to nnect more than 9,500 banking anisations, securities institutions and rporate customers in 209 untries. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering sts, rcing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial mmunity together to work llaboratively to shape market practice, define standards and debate issues of mutual interest.
About XBRL US
XBRL US is the non-profit nsortium for XML business reporting standards in the U.S. and it represents the business information supply chain. Its mission is to support the implementation of XML business reporting standards through the development of taxonomies for use by U.S. public and private sectors, with a goal of interoperability between sectors, and by promoting XBRL adoption through marketplace llaboration. XBRL US has developed taxonomies for U.S. GAAP, credit rating and mutual fund reporting under ntract with the U.S. Securities and Exchange mmission. XBRL US Labs, the research and development arm of XBRL US, leverages the XBRL US platform, methodologies and people to address the quality of taxonomies and the harmonization of XBRL with other XML standards. For more information, go to .
NTACT:
Tom Davin, FISD, +1-202-789-4465, tdavin@
Daniella Baker, FPL, +44 (0) 207-936-9334, daniella.baker@fixprotol.
Cesaltine Gregorio, ISDA, +1-212-901-6019, CGregorio@isda.
Binna Kim, ISITC, + 1-646-395-6304, Binna.Kim@gnitomedia.m
Kim Bratanata, SWIFT, + 32-2-655-3373, kim.bratanata@swift.m
Michelle Savage, XBRL US, +1-917-747-1714, michelle.savage@xbrl.us
