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MDDL. Product Launch Jeremy Sanders World Financial Information Conference November 2 nd 2001. Market Data Definition Language. The XML standard for Market Data. Conception. Introduction to XML Potential Applicability to Market Data Emergence of Other XML-based Standards

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MDDL

Product Launch

Jeremy Sanders

World Financial Information Conference

November 2nd 2001


Market data definition language
Market Data Definition Language

The XML standard for Market Data


Conception
Conception

  • Introduction to XML

  • Potential Applicability to Market Data

  • Emergence of Other XML-based Standards

  • User Application Requirements


Existing situation
Existing Situation

Bridge

Feed

Reuters

Bloomberg

Others

Database

Application 1

Application 2

Application 3

Application 4

Application N


Drawbacks
Drawbacks

  • Multiple Interfaces

  • Multiple Formats

  • Redundancy not Leveraged

  • Migrations Difficult

  • Integration Work Needed


Target situation
Target Situation

Bridge

Feed

Reuters

Bloomberg

Others

Integration Layer

Application 1

Application 2

Application 3

Application 4

Application N


Benefits
Benefits

  • Ease of Migration

  • Leverage Redundancy

  • Leverage Quality

  • Reduced Interface Work

  • Reduced Integration Work


Integration layer
Integration Layer

Two Components:

  • Technical Transport/Interfaces

  • Data Format

    Focus on Standard for

    Data Format


Benefits scope of data standard
Benefits/Scope of Data Standard

  • Within Firm

  • Between User Firms

  • Industry Wide


Initial discussions fall 2000
Initial Discussions, Fall 2000

  • FISD

    Users:

  • Merrill Lynch

  • Goldman Sachs

  • Morgan Stanley

    Vendors:

  • Reuters

  • Bloomberg

  • Bridge


Concept launch
Concept Launch

  • December 2000 FISD Meeting

  • January 2001 Introductory Meeting

  • Formation of Steering, Technology, and Vocabulary Committees

  • June 2001 Introduction of Beta Version

  • Formation of Liaison Committee

  • WFIC: Official Launch of V1.0