Many data formats exist to represent
Interest Rate Swaps; some, like
FpML, are based upon
internationally recognised standards (in this case
XML) however
others, such as the SWIFT MT360, are highly proprietary in nature.
Whether generating a representation of a Swap which conforms to a
standard format or parsing details from the an existing message - a detailed knowledge of both
the target data format and the Swap
economics is required. Consequently, writing interface software can be a
very time-consuming, error prone and expensive undertaking.
To
address this issue, Swapsdata, a company focussed exclusively
on the needs of the Swaps industry, have created SwapsGen, a
software toolkit which completely
hides the complexity of reading and generating standard Swaps representations.
SwapsGen, which is written entirely in Java, can both
read and
generate a variety of standard Swaps data formats,
including:
- FpML Version 4
- SWIFT MT360
- Swapsdata IMS Format
Using a simple Application Programming Interface (API), data
mapping functionality can be integrated with existing applications
enabling them to exchange Swaps with a wide variety of systems which
use these standard formats. In addition, the product ships
with a number of command line utilities, which provide immediate
access to toolkit functionality.
SwapsGen supports the majority of vanilla Swap types traded
in the OTC Swaps market including:
- Single Currency Interest Rate Swaps
- Cross Currency Interest Rate Swaps
- Compounding Interest Rate Swaps
- Interest Rate Swaps with Stub details
Support for additional Swap types will be added as demand
requires.
In addition to the SwapsGen toolkit itself,
Swapsdata can provide comprehensive consulting services,
including: bespoke development, training and technical support, to
ensure that your system implementation rapidly delivers value to
your business.