MDDL: Market Data Definition Language
Focus:
Market Data
DTD or Schema: Version
1.0 is available
here.
Website: www.mddl.org
Contact: Mike
Atkin, Vice President and Director, FISD
Founding & Key Members:
- Bank of New York
- Bloomberg
- Bridge
- Dow Jones
- Fidelity
- Financial Times/IDC
- FISD
- Goldman Sachs
- Lehman Brothers
- Merrill Lynch
- Morgan Stanley
- Reuters
Organization:
The steering committee, which had its first meeting in February 2001, is
chaired by Jeremy Sanders. It is responsible for
overseeing the direction of MDDL, the operational management and
external relations. MDDL also has technical, vocabulary and liaison
working committees, which report to the steering committee.
Background: The
market data industry group Financial
Information Services Division (FISD) officially formed a consortium
to focus on the use of XML in market data at the end of 2000. In
February 2000, FISD decided to name its XML initiative Market Data
Definition Language (MDDL). The goal is to promote product and price
data interoperability.
MDDL
describes financial instruments, corporate
events, and market-related information, such as economic and industrial
indicators. The initial focus of the initiative is on end-of-day
and snapshot information and will reach across different asset classes.
FISD has opted to accept extensions to handle vendor-specific content.
The
design issues include the ability to support multiple vendors, handle
dynamic snapshot data, a common vendor interface and request format for
different vendors. Each request will contain user, application and host
information, and a confirmation of receipt will be sent.
The first version, released at the FISD's 5th World Financial Information Conference in London in November, is available here.