Isda says the energy working group will extend the FpML standard to include energy derivatives, while the validation working group will examine the business rules for validating FpML and the technical implementation of these business rules.

The Association has also scheduled its first ever FpML conferences, for 19 November in New York and 13 December in London. The conferences will provide an overview of developments on the FpML front since the second half of 2001 as well as the challenges facing the standard in the year ahead.

In a separate move, Isda has selected SourceCast, a collaborative software development tool from CollabNet, to provide a single location for all project communication and history; creating archives of all activity around the FpML project.