[May 22, 2001] The Straight Through Processing Markup Language (STPML) is "an XML message specification designed for the financial securities trading industry to meet the requirements of straight through processing. STPML was developed by the DNAfs steering committee consisting of representatives from Microsoft, FMC, Merrill-Lynch, CSS, FIX, Infinity, Bridge, ILX, NASD, and Reuters. Conceived as a superset of FIX, SWIFT, ISITC, and DTC ID, STPML can support virtually every industry standard data exchange format. The GSTPA model of the full trade cycle was used as the basis for the set of messages defined by STPML. These messages are enhanced by other common transaction messages and a separate set of messages for the exchange of market data is defined as the Market Data Markup Language or MDML. The first demonstration of XML-based straight-through-processing was performed at the SIA conference in June of 1999 when FMC, CSS, Infinity, and Microsoft teamed up to demonstrate the entire trade cycle automated using STPML."
"Recently, with the goal of evolving FIXML to a more structured design, the FIXML working group of www.FIXprotocol.org has adopted STPML as a candidate for FIXML 2.0. STPML will ultimately merge entirely into FIXML under the direction of the working group. Schemas for STPML are available for download in both XDR and XSD format. A programmers guide is also available."
See also the 'XML_Init_Main' mailing list for "Coordinating XML Activities in the Securities Industry." Description: "Straight Through Processing (STP) is a hot topic in the securities industry. Most people will tell you that STP involves the proper use of standards. If that statement is true, then where does XML fit in? It fits into two key areas: 1) improving existing standards like FIX and SWIFT, 2) creating new standards like FpML. In the securities industry, we already have overlapping standards and the community is extremely interested in standards convergence and interoperability. With XML, there is the potential for further divergence of standards instead of convergence, as you will now have to ask counterparties their standard and then the syntax of the standard they are using (XML or EDI). This group is being formed under the International Organization for Standardization (ISO) as the ISO 15022 XML Working Group (WG 10). One key area of focus will be business modeling techniques in the standards process. Modeling, which offers a syntax neutral approach to standards development, is already being utilized by organizations like ebXML, HL7, GSTPA and SWIFT. The mission of the group is to evolve ISO 15022 to permit migration of the securities industry to a standardized use of XML, guaranteeing interoperability across the industry and with other industry sectors, particularly but not restricted to the financial industry This ISO 15022 XML Group consists of a Steering Committee and three project teams that address specific issues. The current project teams include Reverse Engineering, UML/XML Design and Registry/Repository. This site represents the public portion of the work as you need ISO nomination to actively participate..."
References:
- STPML web site
- Annotated XSD schema for STPML; [cache]
- STPML Specification in HTML. STPml Message Specification Version 1.0.4. [cache]
- STPml.xsd, [cache]
- STPml.xdr, [cache]
- Contact: ideas@stpml.org
