FPML Tech Committee

Forecross has joined the Technical Committee of the FpMLTM standards organization (founded in June 1999 by J.P. Morgan & Co. Incorporated and PricewaterhouseCoopers LLP) and is represented on this committee by Kim O. Jones, President, CEO and Co-founder of Forecross. FpML (financial products markup language - www.fpml.org) is a new protocol for Internet-based electronic dealing and information sharing of financial derivatives, initially focused on interest rate and foreign exchange products. It is based on XML (extensible markup language) which is the emerging Internet standard for electronic commerce and data sharing between applications and businesses. The FpML specification, which will be freely licensed, is expected to become a standard in the rapidly growing field of business-to-business, Internet-based integration for a range of services, from electronic trading and confirmations to portfolio specification for risk analysis.

As a member of the Technical Committee, Forecross is working to ensure that the FpML standard recognizes the need for organizations to extend their existing package and legacy applications to take advantage of this new e-commerce protocol. Other companies supporting the new FpML standard through participation in the Technical Committee of the organization include International Business Machines Corp. (NYSE: IBM) and webMethods, Inc.