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Priority Determination
In discussion with members, an Interest Map was created detailing current interest and
support of the various components of the MDDL vocabulary. Based on this information, available documentation, and resources
available, the following development schedule for MDDL has been created.
Version Descriptions
Below (click here) also find a description of the MDDL versioning concept and release strategy.
| Objective | Member Interest | Priority | Assigned Version | Target Date |
|---|
| 2.0 Glossary | Vendor, SC4 | 1 | MDDL 2.0-draft | 31 March 2003 |
| Options SetUp | AIFS, LSE, SC4, 2 Vendors | 2 | MDDL 2.1 | 10 April 2003 |
| Equities, Funds, Indices SetUp | AIFS, LSE, SC4, 2 Vendors | 3 | MDDL 2.1 | 10 April 2003 |
| Futures SetUp | AIFS, LSE, SC4, 2 Vendors | 4 | MDDL 2.2 | June 2003 |
| ForEx SetUp | Vendor, SC4 | 5 | MDDL 2.2 | June 2003 |
| Corporate Events | LSE, 2 Vendors, SC4 | 6 | ? MDDL 2.2 | ? June 2003 |
| Fixed Income Pricing | Vendor | 7 | MDDL 2.2 | June 2003 |
| Options Pricing | Vendor | 8 | MDDL 2.2 | June 2003 |
| Query/Response | 2 Vendors, AIFS | 9 | MDDL 2.2/2.3 | August 2003 |
| Futures Pricing | Vendor | 10 | MDDL 2.3 | August 2003 |
| ForEx Pricing | Vendor | 11 | MDDL 2.3 | August 2003 |
| MDDL Streaming | 2 Vendors | 12 | N/A | October 2003 |
Technical Priorities
The above, in general, represents the effort to increase the vocabulary coverage of MDDL. In addition, there are "technical priorities"
that dovetail:
- Documentation - the representation of the MDDL vocabulary and specification
- Production testing - basic MDDL processing as well as each domain/category
- Conformance (the concept and the process)
- Query/Response mechanism
- Instance validation tool
- Dynamic updates (streaming)
- Web service standard for messaging?
Release Strategy
Each MDDL release goes through 3 major phases: beta, draft, and final.
- beta - All available Terms, Definitions, and Relationships have been organized into the specification in as coherent
representation possible based on input from participants in the definition of the content.
- draft - Comments on the beta version are incorporated AND some real market data (a feed or source) has been successfully used to
generate MDDL instance documents that convey all of the data.
- final - Formal promotion after opportunity for final comments and review.
In general, the exercise of adding new content to an MDDL version is complete when the "beta" release is made. At this time
(if not already completed) an available source(s) of data will be used as a template to construct MDDL instance documents. Once
this task is completed, with agreement from all partiies involved, the "draft" release will be made. Promotion to final version
will be made after all interested parties, including the MDDL Steering Committee,
are polled for comment and agree that the specification is satisfactory. As such, it
may be possible for one version to have only been promoted to "draft" while a subsequent version is in "beta" or "draft". Usually,
work on a new version will not begin until requirements for the "draft" release of the current version have been met.
NOTE: MDDL 2.0 did not conform to this strategy. Timelines and resources being what they are, MDDL 2.0 will not be promoted
to "final" form. Instead, all enhancements and clarifications will be rolled into MDDL 2.1.
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