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Historic Launches New Website and Publishes RIXML Version 2.1 Releases New Version of Investment Research Standard

Industry Standards Organization Launches New Website

New York, NY, USA. December 16, 2003., a consortium of buy- and sell-side global market leaders committed to the development and implementation of the first open standard for investment research, announced today that it has released a new version of its investment research standard, RIXML 2.1. The latest version of RIXML adjusts the standard by incorporating taxonomies to address ratings for both equity and fixed income markets. made the following enhancements to its specification:

  • Renamed the recommendation element to rating to more closely match the terminology in common use among publishers.

  • Renamed the buy, hold, sell and no recommendation values to positive sentiment, neutral sentiment, negative sentiment and no rating respectively.

  • Added rating relationship indicator to give context to the rating (i.e., rating is relative to entire industry, rating is relative to the market, rating is to absolute return).

  • Added volatility indicator to provide a signal of the potential price fluctuation of the rated entity.

"The industry has experienced a broad shift in the way research publishers provide ratings for covered companies," said Andrew Ling of UBS and Sell-Side Co-Chair of the Steering Committee. "As the regulatory climate has changed, we have adjusted RIXML to be better matched to what research publishers are doing today."

Deirdre Goldenbogen of Putnam Investments and Buy-Side Co-Chair of the Steering Committee added, "Through the new ratings fields, RIXML will enable publishers and content consumers of research to continue capturing vital company information in an improved format. We are pleased with the continued evolution of RIXML and look forward to working with members and industry participants as they begin the implementation process of version 2.1."

RIXML 2.1 is now available on the organization's website,, which has recently been redesigned.

The new website encompasses a new interactive demo and educational section that demonstrates and describes how RIXML works. Additionally, the new site will enable member firms and industry participants to sign up for email updates, view a calendar of past and upcoming industry events, and access membership information. The new site was launched on December 12, 2003.

About is a consortium of buy- and sell-side financial industry leaders who joined forces to develop an open, global standard for the tagging and delivery of investment research. Members

The members of include:

  • Asset Managers
    • American Century Investments
    • American Express Financial Corporation
    • Capital Group
    • Fidelity Investments
    • OppenheimerFunds
    • Putnam Investments
    • T. Rowe Price Group, Inc.
  • Associate Members
    • CCBN
    • Reuters
    • Standard & Poor's
    • Thomson Financial/First Call
  • Investment Banks
    • Bank of America
    • Bear Stearns & Co. Inc.
    • Citigroup
    • Credit Suisse First Boston
    • Deutsche Bank
    • Goldman, Sachs & Co.
    • JPMorgan
    • Lehman Brothers
    • Merrill Lynch
    • Morgan Stanley
    • UBS

For more information about the RIXML specification and, please visit the website at


JoAnn Healy
Sonal Mahida
Intermarket Communications
Tel: +1 212-888-6115 Ext. 226, 236

Prepared by Robin Cover for The XML Cover Pages archive. See details in the news story " Releases Investment Research Standard RIXML Version 2.1." General references in "Research Information Exchange Markup Language (RIXML)."

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