Transformer has a great track record of success in OTC derivatives messaging with FpML. Transformer is successfully creating Dodd Frank and EMIR compliant trade reports, and is used in mapping a range of FpML-based post-trade and settlement services.
The Transformer FpML library
As you would expect, the Transformer FpML library encapsulates the entire structure of FpML, from message definitions and their sub-components down to fields and basic data types. This rich resource provides an excellent base for all FpML projects, and it is updated by Trace Financial as the standard evolves.
Developers and analysts can then create FpML validation rules, enrichments and mappings in an intuitive, single-step process that does not use any coding, enabling them to generate, read and process real-world FpML messages far more quickly than by any other method.
Handling the special features of FpML with Transformer
Above and beyond this, Transformer provides many special features to solve specific issues and complexities of FpML, helping analysts and developers to build clearly understandable and hence fully maintainable solutions – with no extra bolt-on technologies or custom java code behind the scenes. For example Transformer takes care of advanced FpML features such as dynamic type overrides and element substitutions. These can make the mapping of inbound FpML messages especially difficult, but with Transformer users can create mappings which, at execution-time, vary in response to the data content of each FpML message instance.
FpML also uses intra-message references, where for example the full details of each party to the trade may be stored in one area of a message and then cross-referenced from elsewhere in that same message (in most standards this data would just be copied everywhere it is needed). Transformer provides full facilities for dealing with these internal correspondences when creating or reading an FpML message.
CASE Study – Transformer for OTC Derivatives reporting in FpML
To learn more about how Transformer and the FpML library for OTC Derivative Reporting the following case study is available here
This case study looks at how one leading global investment bank successfully created a range of OTC trade reports to the DTCC’s Global Trade Repository (GTR) using Trace Financial’s Transformer.
Overall Transformer for FpML accelerates project delivery up to ten times so the business gets, for example, faster compliance with Dodd Frank and EMIR trade reporting.
To find out more about Transformer for FpML please contact us