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Financial Services - FpML / FIXML

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  • Is anyone with the OpenXMLDeveloper.org community talking to any financial services firms with regard to perhaps working FIXML /FpML into a generic standards based payload, loadable into Excel, for instance, and allowing humans and servers to read the same message payload, while processing the contents in vastly different ways.

    I guess where I am coming from on this is the realm of basket trading, where much of the bid process is handled in Excel spreadsheets at the moment, and only sent down the wire later on in the process.  If, in essence, the basket could be 'embedded' into spreadsheetML it could then be handled by a server to look at the risk / impact cost analysis etc. and by a trader for a visual check and gut feel opinion.

    Any thoughts?

  • Hi John...

    We service the financial market place; however we have not looked into the specifics of turning FpML / FIXML into a standard.

    You know, it was possible for MS (giant software company) to put the resources behind making OpenXML a standard. Do you think it would be good for MS to do something to sponsor partners like us in the developer community to standardize industry specific formats core to our business?

    I do...

    Back to your question for a minute; I like the idea of sticking the data in the package; however, it might be nice to architect how you stored the data to allow having the data inline (inside the package); or referenced outside the package. You could use relationships to support two different types of data sets (internal/external).

    Doing it this way will help make it more portable with large data sets and consider compliance/governance issues in finserv (forcing a login to specific data; so the spreadsheet itself can be passed around; but only authorized users can load the spreadsheet with the data). I know this is the exception, not the rule; however having the architecture there will help with adoption (my opinion).

    -Stephen

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