J.P. Morgan & Co. Incorporated and PricewaterhouseCoopers LLP announced that IBM Corp. would participate on the technical committee for the recently announced Internet-based protocol FpML (XML-based financial products markup language), a specification for electronic dealing and information sharing of financial derivatives. The two firms also announced that IBM would help create FpML seminars for technical and financial services professionals worldwide. The FpML standard, announced last week by J.P. Morgan and PricewaterhouseCoopers, enables Internet-based electronic dealing and information sharing of financial derivatives, initially focusing on interest rate and foreign exchange products. The FpML standard, which will be licensed freely to the technical and financial markets, is based on XML and will allow the Internet-based integration of a range of services, from electronic trading and confirmations to portfolio specification for risk analysis. For more information on the FpML seminars or the FpML standard, see www.fpml.org.
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