Originally released by J.P. Morgan & Co. Incorporated and PricewaterhouseCoopers LLP, now guided by an organization of key derivatives industry participants, FpML(tm) is a new protocol for Internet-based electronic dealing and information sharing of financial derivatives, initially handling interest rate and foreign exchange products. This presentation reviews the history of FpML; discusses the process of creating a new standard, lessons learned, success factors and the differences between dot com and dot org; and explores how changes in technology will create eService opportunities for derivatives processing in the wholesale capital markets.