Visualizing FpML Documentation: A Step-by-Step Tutorial on Using XSD Viewer

Welcome to the fourth part of our series on the introduction to FpML documentation. In this article, we will explain how to download the FpML XSD schema files and how to work with them in the external XSD viewer.

The utility of diagrams within FpML is undeniable. Nevertheless, navigating between various elements can often prove cumbersome, resulting in multiple open tabs within the browser and a potential loss of continuity in one’s progress through the documentation. It is in such situations that an XSD file viewer proves particularly advantageous.

There are plenty of XSD viewers available for Windows, Linux and Mac. You can find some recommendations on https://listoffreeware.com/free-xsd-viewer-software-windows/ and https://boomzi.com/best-xsd-viewer-software/

For our needs, “XSD Diagram” should do the work. You can download it from here: http://regis.cosnier.free.fr/?page=XSDDiagram. Experiment with other tools to find your favorite. 

To work withs XSD files, first you have to download them from FpML website. Please recall the main page with documentation: https://www.fpml.org/spec/fpml-5-12-4-rec-1/. You have there an option to download Schema and Examples in ZIP format https://www.fpml.org/spec/fpml-5-12-4-rec-1/xml/confirmation-5-12_xml.zip . After downloading, you have to extract this to a dedicated folder.

After extracting, please navigate to the folder with extracted files. In folder \confirmation-5-12_xml\confirmation you will find XSD files:

Now go to the XSD Diagram tool and hit the “Open” button (the first one on the left):

Browse your files and go to the XSD files with FpML schema. Please open the file fpml-ird-5-12.xsd. In this context, “ird” stands for “interest rate derivatives” – this file describes FpML schema for interest rate derivatives.

After opening the file, you will see the following errors:

Please skip it.

After opening the file, you will notice some changes in the main ribbon:

Please look at tabs. You opened one file (fpml-ird-5-12.xsd), but 4 tabs were opened. It is because XSD Diagram recognized relations between files and opened also other files which are required by interest rate derivatives.

Now please look at the drop-down menu with a list of top-level elements. After expanding this, you will see all the elements which are described within the IRD schema. From the list, please select “element: swap (http://www.fpml.org/FpML-5/confirmation)” and hit the red single “+” button which is next to the drop-down list. Once added, you should see something like this:

If you click on the small “+” icon next to the “swap”, you will expand the swap element and you will see all the attributes of the swap within FpML definition. This is the same what was presented in the online version of the documentation for a swap.

After clicking several “+” buttons next to various elements, you can expand your tree and see different dependencies.

Photo by Jake Blucker on Unsplash

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