B2B Integration : A Practical Guide to Collaborative E-commerce

200 B2B Integration — A Practical Guide to Collaborative E-commerce
Continued from page 199
• Quick and accurate HP NetServer configuration and management
of shopping carts;
• Online access to distributor pricing and HP availability for VARs;
• Easy, customized quote creation for customers; and
• Fast online order placement direct to distributors.
Source: Condensed from RosettaNet Standards: Strengthening Trading Networks,
Ascet Volume 3
7.3. FpML — Financial Products Markup Language
This section gives a brief description of the Financial Products Markup
Language (FpML) and its benefits.
7.3.1. What is FpML?
FpML is a new protocol, based on XML, to enable e-commerce activities
in the field of financial derivatives. It is a standard that will allow
financial institutions to exchange derivative transactions using the
Internet. All categories of over-the-counter (OTC) derivatives will
eventually be incorporated into the standard. It aims to streamline the
processes supporting trading activities in the financial derivatives, by
describing these products and associated business interactions, based on
industry standards (see Figure 7.7 and Figure 7.8).
7.3.2. Benefits of FpML
The benefits of using FpML include:
• Trade automation;
• Enable sharing of financial information among disparate financial
applications;
• Faster trade confirmations;
• Lower cost of system implementation and communication between
applications, resulting in an overall decrease in transaction cost;