FPL Co-Chair Updates May 2012

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By Jay Hurley, Robert Smythe, Hanno Klein

As a member-led organization, FIX Protocol Ltd (FPL) empowers its members. Hear from the women and men who run the committees and working groups about the diverse, global initiatives within FPL.

FPL Global Technical Committee Co-Chair, Hanno Klein
The FPL Global Technical Committee (GTC) has supported a number of larger initiatives in recent months and provided extensions in the pre-trade, trade and post-trade area. One of them is an industry initiative to accelerate the adoption of FIX for the trading of Interest Rate Swaps and Credit Default Swaps. The GTC also reviewed and approved various extensions to support regulatory reporting, including Large Trader Reporting to the CFTC in the US. Last, but not least, FPL is pleased to have closed its last major gap related to the exchange of reference data related to parties, accounts, entitlements and risk limits.
 
FPL Global Foreign Exchange Co-Chair, Jay Hurley
The Global Foreign Exchange Committee has put the FX OTC Options gap analysis on hold pending a review of the impact of regulatory changes that could affect both the trading and settlement of OTC options, which will enable FPL to more effectively meet the needs of the FX trading community moving forwards. In the APAC region, dialog has been established with the Chinese FX Exchange (CFETS) who use IMIX, a derivation of the FIX Protocol, to seek opportunities for collaboration. 
 
FPL Canadian SubCommittee, Robert Smythe
A regional meeting was held in Montreal on March 8, 2012 with the Montreal Exchange and Fidessa kindly hosting the event and we were pleased to welcome the 30 representatives in attendance. This is the first FPL meeting in Canada outside of Toronto. It featured presentations on OTC Derivatives, FIX and OTC Trade Repositories. Preparations for the FPL Canadian Trading Conference on June 5th in Toronto are well underway with the agenda set and most speaker slots filled. The Canadian Subcommittee continues to hold regular monthly meetings for Canadian members to be kept appraised of developments within the FPL organization and to make FPL aware of requirements specific to the Canadian markets that might impact the FIX Protocol.