Working groups in the Financial Information Services Division (FISD) of the Software and Information Industry Association (SIIA) have prepared beta versions of XML schemas and DTDs in the Market Data Definition Language (MDDL) project. The latest MDDL 0.92 release includes also MDDL samples, MDDL Content Model diagrams, and a Glossary of Terms. MDDL is being developed actively in preparation of its inaugural release at the World Financial Information Conference on November 2, 2001. The goal in the MDDL project is to "define a publicly available standard that provides a generic XML-based interchange format on the fields needed to describe financial instruments (including identifiers and current/historical values), corporate events (including specific corporate and instrument information affecting value and tradability), and market-related information (including economic and industrial indicators). The goal is to promote data interoperability. MDDL is an open standard; anyone interested in the work of MDDL is free to participate. MDDL will focus on broad field definitions for market data content, applicable to multiple classes. The initial focus of MDDL will be end-of-day and snapshot applications that can be extended to historical, streaming and interpretative and vendor-specific data models as appropriate. An MDDL Steering Committee provides oversight of MDDL, operational management of the standards development process and external relations. A Technical Working Group has been established to define the structural model of the data including the architecture, structure and rules of MDDL. A Vocabulary Working Group defines the scope of the MDDL standard and identifies the specific data sets to be covered."
XML in financial, securities, and investment markets (examples):
- Interactive Financial Exchange (IFX)
- FinXML - 'The Digital Language for Capital Markets'
- Investment Research Markup Language (IRML)
- Extensible Financial Reporting Markup Language (XFRML)
- Extensible Business Reporting Language (XBRL)
- XMLPay Specification
- Financial Products Markup Language (FpML)
- Market Data Definition Language (MDDL)
- Market Data Markup Language (MDML)
- Weather Markup Language (WeatherML)
- MarketsML Initiative
- Research Information Exchange Markup Language (RIXML)
- Data Link for Intermediaries Markup Language (daliML)
- swiftML for Business Messages
- Straight Through Processing Markup Language (STPML)
- FAML DTD for Financial Research Documents
- XML-MP: XML Mortgage Partners Framework
- Mortgage Bankers Association of America MISMO Standard
- Open Philanthropy Exchange (OPX)
- Open Financial Exchange (OFX/OFE)
- EcoKnowMICS ML
Principal references:
- MDDL web site
- MDDL Overview and Mission Statement
- MDDL XML Schema 0.92, [cache]
- MDDL XML DTD 0.92, [cache]
- Diagram: MDDL Content Model Fully defined
- MDDL 0.92 glossary
- "Draft Version of XML-based Market Data Language Released MDDL Aims to Standardize Market Data." By Cristina McEachern. In Wall Street and Technology (July 06, 2001).
- See previously: "Market Data Markup Language (MDML)" - Main reference page.
- "Market Data Definition Language (MDDL)" - Main reference page.
