Swift, ISDA Prep FpML Messaging Pilot

NEW YORK—The Society for Worldwide Interbank Financial Telecommunication (Swift) and the International Swaps and Derivatives Association (ISDA) expect to see the first messages based on ISDA's XML-based Financial products Markup Language (FpML) transmitted over Swift's IP-based SwiftNet network in the next few weeks, DWT has learned.

The joint project started as a discussion between the two industry organizations in June 2006 and moved into development in November, says Jim Donovan, head of the

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