IMS Format was first
developed in 2001 and takes its name from the IMS
application that was used for Backloading trades into the
LCH.Clearnet SwapClear service from 2002. IMS was used by 19
of the worlds largest Banks and successfully reconciled more
than 200,000 IRS trades.
LCH.Clearnet have used the IMS Format alongside FpML to
represent the auction files in the event of a SwapClear
Member going into default.
At the end
of 2008 IMS Format was successfully used to represent and
auction more than 64,000 Interest Rate Swap trades.
*The online version of
swapsgen uses IMS Format 1, which is a subset of IMS Format
4. Example files are provided with online demo.