Market Data Definition Language (MDDL)
The XML specification to enable the interchange of information necessary to account, to analyze, and to trade financial instruments of the world's markets.
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The Financial Information Services Division of the Software & Information Industry Association
MDDL 2.4-beta Release Notes

Back to MDDL 2.4-beta Documentation

The following information should help identify modifications made for "mddl 2.4-beta" that may affect your current implementation or understanding of MDDL. Although releases with only an increased ".x" number are intended to be backward compatible, no other 2.x release is in production (i.e. "final") so this may not be the case. Please remember that beta releases may be changed at any time to add, correct, or otherwise modify the release as necessary during the implementation (for "draft") and evaluation (for "final") phases for each release. The number included with each item is a tracking number - please use it when corresponding with questions or comments.

MDDL 2.4-beta

  • 2004/05/17 - Removed year from URI - i.e. "http://www.mddl.org/mddl/2.4-beta/" instead of "http://www.mddl.org/mddl/2004/2.4-beta".
  • 2004/05/17 - Reworked "period" to allow specifying arbitrary recurrences based on week-day (i.e. "3rd Wednesday of the Month").
  • 2004/05/17 - Reworked "interestRate" for debt instruments... Summarized in the following 7 items. In general, the "interestRate" element had basically the right collection of elements but they were grouped incorrectly and given confusing names. The new structure more correctly provides what is necessary to do basic fixed rate instruments as well as non-fixed rate instruments like Floating Rate Notes (FRNs) and stepped.
  • 2004/05/17 - ...Added "incremental" to "nonFixedRate" to denote thresholds on changes during a given rate change period.
  • 2004/05/17 - ...Added "resetFrequency" to identify when nonFixedRate items are recalculated.
  • 2004/05/17 - ...Added "determination" including "determinationSource" to identify pre-rate change determination period.
  • 2004/05/17 - ...Added "interestRateContainer" for holding changed properties in specific periods of nonFixedRate instruments.
  • 2004/05/17 - ...Removed "rateFix" in favor of "rateMethodChange".
  • 2004/05/17 - ...Moved "minVal" and "maxVal" to new "lifetime" to denote min/max for lifetime of instrument.
  • 2004/05/17 - ...Added "multiplier", "benchmark" (moved), "rateSpread" (renamed from "margin") to "nonFixedRate/formula".
  • 2005/02/20 - Various changes...
  • 2005/02/20 - ...Added "issueStatusType" to define overall status of the issue
  • 2005/02/20 - ...Added "exchangeable" to indicate instrument can be traded for securities from other issues.
  • 2005/02/20 - ...Added "cumulativeDividend" to show obligation of issuer to pay dividends (eventually).
  • 2005/02/20 - ...Added "stripped" to indicate issue is part of a stripped principal/interest instrument.
  • 2005/02/20 - ...Moved "salesRestrictionsType" to "jurisdiction" as the former is jurisdictional relevant.
  • 2005/02/20 - ...Clarified "payment" as a classification amount.
  • 2005/05/31 - Debt focused modifications...
  • 2005/05/31 - ...Moved "issuerRef" to a child of "issueData".
  • 2005/05/31 - ...Changed schedules - to include "scheduleType", "nextEvent", and "firstEvent".
  • 2005/05/31 - ...Filled out the equityDomain, preferredClass with appropriate debt parameters.
  • 2005/05/31 - ...Added "collateral" with appropriate fields - 'loanCount' (as "underlyingCount"), "maturity", and "interestRate".
  • 2005/05/31 - ...Added "underlyingCount" with stipulation that it does not necessarily count the number of "underlying" elements included.
  • 2005/05/31 - ...Added clarification that schedules are not used to announce upcoming events or events that happened.
  • 2005/05/31 - ...Added "marginable" and indication of which organization is limiting margin (issuer or market or broker).
  • 2005/05/31 - ...Proliferated "first*", "last*", "penultimate*" and other non-schedule calculations (like "frequency") with schedules.
  • 2005/05/31 - Other general changes...
  • 2005/05/31 - ...Corrected links in Schema Docs for parents and children.
  • 2005/05/31 - ...Modified "period" to permit a single date/time (i.e. not a period but a specific time).
  • 2005/05/31 - ...Modified the schema to allow "##any" content in an "other" instead of the more limiting "##other".

Other Changes (not necessarily exhaustive)

  • 2004/05/17 - Added "rateChangeType" Controlled Vocabulary to denote under what conditions a rate is likely to change (i.e. floating-to-fixed, and vice-versa).
  • 2004/05/17 - Changed "periodType" Controlled Vocabulary to be more consistent with period element - removed redundant types.
  • 2004/05/17 - Changed definition of "dayType" Controlled Vocabulary value to "nextWeek" to indicate a push of 7 days versus to beginning of week.
  • 2004/05/17 - Removed MDDL.org website navigation so release is self-referential and self-contained (for graphics and documentation).
  • 2005/02/20 - Updated callableType, instrumentFormType, issueStatusType, instrumentType, nonFixedRateType, periodType, putableType, rateChangeType, salesRestrictionsType, stripType, taxType controlled vocabularies.
  • 2005/05/31 - Added "dateTime" to the "periodType" to facilitate those instances where only a date/time is needed - no duration.

Specification Suggestions and Modifications: