• Resources: About FinXML

FinXML™ — The Digital Language for Capital Markets

FinXML is an XML-based framework developed to support a single universal standard for data interchange within capital markets.

FinXML enables organizations to represent complex financial instruments in electronic form, allowing an organization to communicate the details of highly structured financial transactions electronically and share transactions among disparate internal and external systems.

FinXML was the first XML (Extensible Markup Language) vocabulary for the negotiation and trading of financial products, which allowed for automated computer-to-computer conversations. FinXML's specifications were developed in conjunction with standards defined by the ISDA (International Swaps and Derivatives Association, Inc.), which are already widely used in the financial industry. FinXML is also interoperable with existing financial protocols such as FIX and S.W.I.F.T.

FinXML provides a broad set of XML elements that define financial instruments, transactions, reference data and market data. FinXML can be used to describe a wide variety of financial transactions, from complex structured derivatives products, as well as high-volume, over-the-counter products and exchange-traded futures and options, including foreign exchange instruments. FinXML can be used as the basis for straight through processing (STP) and risk management within a financial institution as well as conducting e-commerce over the Internet.

The relevant US Patent 6,347,307 on "system and method for conducting web-based financial transactions in capital markets" covers the electronic negotiation, execution and settlement of OTC financial products over the Internet.

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