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Gem Soup releases FpML community source tools for beta testing

10 April 2003  |  3047 views  |  0 Gem Soup releases FpML community source tools for beta testing

Gem Soup, a derivatives software start up established by former JPMorgan staffer and FpML luminary Brian Lynn, has begun beta testing its first community source products for working with the financial products mark-up language.

The GemScribe FpML viewer/editor, expected to be in full release by summer, allows a user with Internet Explorer to load, display, edit and save FpML trades both locally and via the World Wide Web.

Lynn is demonstrating the product at the annual ISDA meeting, where the derivatives trade association has announced that Gem Soup's technology will underlie its FpML viewer/editor for interest rate swaps and options and FX products; this tool will be distributed free to ISDA members.

Support for additional FpML asset classes, such as credit derivatives, is planned in the near future, says Lynn.

Also on display at the ISDA meeting, the GemDelta FpML document comparison tool offers customisable match scoring during FpML document exchanges. An upgrade to GemScribe to provide GemDelta functionality is available at an introductory price of $199. Standalone and server-based versions of GemDelta are also available to Gem Soup community members.

Brian Lynn comments: "We feel that these tools, combined with the precision and richness of the FpML standard, will go a long way to helping firms clean up the multi-billion dollar mess in privately-negotiated derivatives processing."

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