Sponsors the First Industry Owned Research Markup Language Organization
Organization's Inaugural Meeting for Development of XML Standards
NY, April 17, 2000
Multex.com, Inc. (NASDAQ:MLTX), the Internet's leading financial e-marketplace
connecting buyers and sellers of financial services and information, announced
today its initiation and sponsorship of the Investment Research Markup
Language Organization, IRML.org (http://www.irml.org),
an industry association comprised of key members from all facets of the
global financial services industry. IRML.org will provide a forum where
all participants in the Investment Research community can come together
to develop a nonproprietary, industry-wide standard for the creation and
exchange of Investment Research using XML technology.
"XML is the
next generation standard for the publishing of data and documents on the
Internet, and offers many advantages over current publishing methods,"
said John Mahoney, Chief Technology Officer of Multex.com. "XML will be
key in enabling the creation of content for the multiple constituencies
it is being called upon to serve, as well as myriad new technologies such
as wireless devices and electronic books that are making their way into
is an independent standards consortium whose membership is open to any
company that creates, distributes, or consumes "investment research" or
related financial content. One of the first aims of the initiative is
to continue to amass an active global membership, which will encompass
the entire financial research domain.
of the Internet clearly demonstrates the value of nonproprietary standards,"
Mahoney continued. "Similarly, it is crucial for the success of IRML.org
that the standards proposed be owned and embraced by the financial community
overall and not by any specific vendor."
proposes a phased approach to adopting the new technology. Immediately,
firms will be able to distribute investment research products as they
create them today but include additional meta data files (including earnings
estimates, recommendations, etc.) in an XML format. This will allow firms
an entry point for using XML and working with IRML.™ Early adoption of
XML will allow firms to better leverage their existing research creation
and/or retrieval processes without having to re-engineer their entire
research creation process.
ways, current broker research production and distribution practices are
obstacles to the effective communication of analysts' ideas," said Graham
Millington, Global Head of Research Communication at Warburg Dillon Read.
"An open industry standard for the use of XML technology will allow brokers
to deliver to clients tailored, relevant research content in a highly
manageable, accessible and usable form."
espoused by IRML.org is intended to be beneficial to both producers
and consumers of investment research. These benefits include lower distribution
and production costs, expanded flexibility within firms' IT infrastructures
and powerful tools for retrieval and manipulation of information components.
With XML standards in place for investment research, firms will be able
to create on-demand, decision-critical research tailored to each prospective
client, enabling enhanced, targeted client communications.
will present its proposed specification of the IRML™ standard as the starting
point for the discussion that will lead to the creation of a truly industry
owned standard. The initial IRML™ schema is the result of many months
of development and testing by Multex.com, which utilized over 2 million
documents from its data repository in conjunction with community input.
meeting will be held in June in New York City. For more information about
the consortium, to become a member, or to pre-register for the inaugural
meeting, please visit the organization's website at http://www.irml.org.
is a nonprofit organization established to promote and support the use
of XML (eXtensible Markup Language) within the financial industry. The
IRML™ standard establishes an open architecture platform that will benefit
all facets of the industry (business-to-business, business-to-consumer,
sell-side firms, buy-side firms, corporations, and individuals).
aims to promote XML technologies within the framework of current financial
information technology (IT) infrastructures, encouraging firms to adopt
leading edge technology in anticipation of the next generation of the
World Wide Web. The standard aims to provide a logical, manageable and
coherent structure for use by the financial community, which offers unique
benefits to producers and users of investment research.