24 May 2002: MDDL to Beta-Release Version 2.0 Next Month

Version 2.0 of the Market Data Definition Language (MDDL) specification for fixed income is targeted for beta release by the second week in June. To this end, the organization is to complete its vocabulary, including terms, definitions and hierarchical relationships, by May 31 for submission to the Bond Market Association.

The BMA has been working with MDDL to create an XML standard vocabulary and distribution format for fixed-income securities, which it can then use for the content and schema in their security master database project.

The MDDL Fixed Income Working Group has met five times since the beginning of April to develop the vocabulary structure, definitions and basic hierarchies of relationships for Version 2.0.

The Vocabulary Committee has now completed its proposed taxonomy for the specification in the form of the Debt Terms spreadsheet. This represents the proposed elements of the vocabulary modeled for debt securities.

Prior to the May 31 vocabulary release, FISD members and other interested parties can review the proposed taxonomy for completeness, accuracy, terminology and definitions.