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I am asked to map financial products into XML. It can be in any format. I know there is an open specification FPML. Is that worth to adopt FPML rather than my own standards? Also, how common FPML is in the industry?

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3 Answers 3

up vote 8 down vote accepted

we used fpml all the time in morgan. Of course its not surprising given their involvment in it.

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Be prepared to extend any specification you will use.

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Quite common - such products as Calypso and Murex use their own derivations of FpML: CalypsoMl and MxML respectively.

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I'd agree with quite common. In addition: I personally find that FpML and CalypsoML differ quite substantially in a number of design decisions, so I probably wouldn't call CalypsoML a "derivation" of FpML. I could imagine that mapping between the two can be quite a pain. –  Mathias Körner Dec 2 '11 at 8:52

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