XML을 이용한 장외파생상품 전자거래 시스템 구축방안에 관한 연구

A Study on Building Electronic Trading System for OTC Derivatives Market Using XML

Since the early 1980’s there has been explosive growth in the trading of financial derivatives, particularly in the OTC(over-the-counter) derivatives market. While the market has exploded in terms of growth, much of this activity is still conducted over the phone or fax. Currently, over 2,083 trillion Korean Wons are spent during 2003 by the OTC derivatives industry. XML provides an excellent framework for representing these highly structured products. FpML is the emerging XML-based tool for enabling e-Business in the OTC derivatives market. This paper discusses the application of FpML in building electronic platform designed to promote efficiencies for this market and propose the framework for STP(Straight Transaction Processing) system for OTC derivatives processing which can solve the problems with manual operations.