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Syndicated Loan Industry Steps Up to Automation Demands

The syndicated loan industry is hoping to take a big step toward automation with a set of standardized financial products markup language (FpML) message formats, expected to be issued by the end of the quarter.

The ratification of the so-called phase-one standards by the International Swaps & Derivatives Association (ISDA)--and the release of the first seven types of loan messages on its FpML.org Web site--could come as early as this month, if few or no changes are deemed necessary.

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