FpML.org is seeking volunteers to help advance its XML-based standard for OTC trading of financial derivatives.
The organisation aims to establish a working group which will address issues relating to digital signatures, encryption, attachments and extensions. The group will also explore structural issues relating to the versioning and extensibility of FpML documents. An early deliverable will be producing an XML schema representation of FpML Version 2.0.
Brian Lynn, co-chair of the non-profit consortium's Standards Committee, says the working group will consist predominantly of technologists within financial institutions, systems vendors and service providers.
Activities are expected to start in September and continue through January 2002, he says.
Individuals interested in volunteering for the group are invited to register at www.fpml.org/wg/architecture/index.html prior to September 7. Based on past experience, prospective members should be prepared to commit one to two days a week on average.
The organisation has also announced the appointment of five new board members. They are Mark Beeston, chief operating officer, OTC derivatives at Deutsche Bank, Richard Cohen, managing director, Bank of America, Drew Gross, managing director at JPMorgan, David Long, chief operating officer for developed market rates, Credit Suisse First Boston, and Ardavan Nozari, managing director, Citigroup.
Philippe Khuong-Huu, chairman of the FpML.org board says the new directorships represent a "passing of portfolio" within their respective companies.