As specialists in the use and customisation of data standards across capital markets and global payments, we enhance and customize your data and validate its quality.
TradeHeader’s offering in the area of financial data standards spans consulting, DevOps, and training. We have extensive expertise in OTC (over-the-counter) derivatives products and in messaging standards such as FpML, ISDA CDM, FIX and ISO 20022. We don’t just know these standards – we are closely involved in their design, their evolution and their stewardship.
TradeHeader’s clients include central banks, investment banks, asset managers, custodians, exchanges, service providers, and technology companies. Our bespoke solutions have included:
- The development of an internal messaging standard extending FIX/FIXML, FpML and ISO20022 for a global investment bank. We created a messaging model for multiple projects within the bank including: Dodd-Frank and EMIR reporting; a new electronic trading platform; an internal trade repository; reference data and market data; and real-time credit limit checking.
- Training and consulting around the development of a new FpML-based trade repository and reporting service in Asia. This project included a review of the repository’s design and functionality; product data representation; reporting specification via CSV and FpML; the creation of testing scenarios and test data. We also provided FpML training for the development team and testers.
- The development of messaging specifications based on FIX/FIXML and FpML for a global electronic trading platform. These specifications are currently being used by hundreds of the platform’s clients, and encompass connectivity with confirmation platforms and clearing houses.
- Business analysis and mapping between internal or proprietary formats and ISO 20022 for cross-border payments, using ISO 20022 as the basis for internal messaging format transformation.
- An EMIR-related analysis of trade repositories and data reporting.
- The design and development of FpML Trader. We built a workflow application based on FpML version 5 to facilitate the information flows between investment managers and custodians.
Read our Case Study on Internal Messaging for an Investment Bank [pdf]
Additional consultancy projects and initiatives with a messaging component undertaken by TradeHeader include:
- Consulting for global organizations developing their internal messaging based on FpML, ISDA CDM, FIX/FIXML, and ISO 20022;
- Internal format conversion from proprietary formats to ISO 20022 payment messages;
- Development of messaging specifications;
- XML Schema development, including the creation of extensions which follow the standards’ architectural guidelines;
- Definition and implementation of validation rules;
- Creation of scenarios for system testing;
- Advising on OTC derivatives trade repositories;
- Data mapping between front-office and back-office systems (Murex, Kondor+, OPICS, Calypso, Scrittura);
- Representation of complex structured products for internal messaging;
- Data integration with DTCC and MarkitSERV;
- Development of templates to facilitate the population of a fully compliant FpML message which identified the required, defaulted, and derived fields;
- Standards compliance analysis (DTD to XML Schema conversion);
- Mapping from FpML to ISO 20022 for ESMA regulatory reporting.