Monday, March 17, 2008


Here is another useful site that has created social collaboration platform for International Payments. My main focus and interest on the SWIFT sponsored site has been on the standards discussion ( ISO20022, ISO15022, XML) notes and blogs

Convergence to XML standards will lead to integrated workflow

During the last 1 year and a half I have had the opportunity to learn more about the Global Markets - Interest Rates Derivatives business while working as a consultant at Wachovia. Recently I came across an interesting article in industry XML standards. While I was very familiar with UNIFI ISO2002 XML, this article introduced me to a new standard used in the Capital Market industry FpML.
The article discussed the trends in convergence to various xml standards within the financial industry. The key to success will be a system that will be able to easily integrate pre-process (sales, risk assessment,regulatory compliance check,...) , and post-process (trading, routing and settlement) data elements within a single workflow.