BNY Mellon Asset Servicing, the global leader in securities servicing, has achieved operational readiness for the automated trade capture of over-the-counter (OTC) derivatives through the Swift network using the Financial Products Markup Language (FpML) standard.

"With more than 60,000 OTC transactions processed per month, trade capture automation is a key goal," said Ahmad Sharif, managing director and head of the derivatives product group at BNY Mellon Asset Servicing. "This leads to more efficient and accurate mid-office and back-office operations. It helps the valuation process, collateral management and counter party reconciliation."

FpML is recognized by the International Swaps and Derivatives Association (ISDA) community as the standard of choice to communicate electronic information related to over-the-counter derivatives transactions. SWIFTNet FpML was introduced in 2007 in conjunction with ISDA and the SWIFT FpML closed user group and extended in March 2008 to include additional message types. It ...   more »