TradeHeader designs and delivers standards-related solutions and data validation tools for tier 1 banks and other financial services organisations around the world. Our custom software development practice has a proven record of successful delivery of complex applications for the OTC financial industry, with a primary focus on developing tools that require a strong expertise in financial products and messaging standards such as FpML, ISDA CDM, FIX-FIXML, and ISO 20022:
- Converters: the software manages the conversion between financial standards such as FpML, FIX/FIXML and ISO 20022 using external XQuery scripts. All input files – whether CSV, JSON, MxML, Bloomberg TOMS or others – are processed concurrently; the compiled XQuery is then launched and the results saved
- The conversions are based on XQuery so there is no need to recompile the Java code in order to support other financial XML standards.
- The software includes validation, including schema and business rules validation for FpML and ISO 20022.
- The converters support multiple transport mechanisms such as AMQP, SFTP, email, etc. using the Apache Camel framework.
- FpML Samples Generator: this application is capable of generating thousands of valid FpML messages. Business logic is coded in the application to generate random examples that make business sense.
- Defaulting Service: this service enriches FpML trades by analyzing its content. It applies standard ISDA default values and market practice. It uses an xml configuration file for the defaulted elements and market conventions. The configuration file is parsed in Java and the tool includes the appropriate default elements if they don’t exist in the input trade. If the elements appear but values are different from the default ones, warning messages are thrown.
- ISDA Taxonomy Classifier: the ISDA Taxonomy Classifier takes an FpML message; it analyzes and classifies it, and adds a product type element inside the trade structure with the appropriate ISDA Taxonomy code.
- Reporting Generator:after working on regulatory projects for clients using binding frameworks we found that in many scenarios this approach is too rigid. We propose a regulatory reporting solution using XSLT and creating configuration files to fully customize the output regulatory report.
- Matching Engine: the matching engine is a content-based and structure matching process for the FpML standard. It uses the Hungarian Matrix algorithm to select the minimal distance cost between all nodes of 2 different documents.