UK-based RCP Consultants has begun production of FpML-compliant software for foreign exchange trade capture and processing.
The company has developed a set of applications which collect deal data from major FX trading systems such as Reuters Dealing 2000/3000, EBS and selected front office systems such as Kondor+, and deliver reports as standard FX FpML documents. Applications are also under development to deliver FpML-compliant deal capture from other FX trading systems, says RCP.
The development of the FpML standard is being driven by the financial industry and is based on XML (eXtensible Markup Language), the standard meta-language for describing data shared between applications.
Gavin Smith, global markets business manager at RCP, a member of the FX FpML standards working group, says: "The benefits to developers of downstream systems are immense. Anyone thinking of developing an FX FpML client application can start to use real deal data in real time right from the publication of the standard."
He says the company will present the new development on FX FpML and provide demonstrations of its RCP Deal Web software at the Swift International banking conference, Sibos, in Singapore in October.