The XML specification to enable the interchange of information necessary
to account, to analyze, and to trade financial instruments of the world's markets.
MDDL Version 2.0 (Fixed Income) Scheduled for
Release July 1, 2002
June 24, 2002
The beta version 2.0
of FISD’s Market Data Definition Language (MDDL) covering the information
required to set-up municipal, corporate, government and agency bonds is
scheduled for release on July 1, 2002. The market data industry is encouraged to
provide comments on the vocabulary structure, terms and definitions.
The working spreadsheet
(version 5c) of MDDL 2.0 vocabulary and hierarchical relationships is now
online.
The decision on the scope of 2.0 was made during the June 18 MDDL working
meeting in NYC. FISD is working to deliver a functional MDDL specification to
meet the application requests of the Bond Market Association’s Security Master
Database Project. Version 2.1 will cover the information required to disseminate
price, yield and accrued interest data and will be released shortly after v2.0.
In addition to the decision on the scope and timeframe for MDDL v2.0, the
following issues were discussed during the working meeting:
There will be no
modifications to 1.0. Edits and missing features will be incorporated into
v2.1.
MDDL 2.0 terms and
definitions need global review and validation. FISD is appending definitions
in the following order - BMA required data elements; ISO standard terms;
industry recommendations. Documentation for the vocabulary definitions is
being reviewed by a small group and will be released for global review by
mid-July (even though the beta specification will be released on July 1).
Richard Robinson
(Deutsche Bank) is the chair of the MDDL Vocabulary Committee and is managing
the vocabulary process. Comments and suggestions should be directed to him.
FISD reinforced its
commitment to incorporating MDDL terms and definitions (semantics) into ISO
15022 data dictionary. Comments and suggestions should be directed to
Michael Atkin.
Practical
applications of MDDL are FISD’s primary focus. We have spoken with a number of
firms in various stages of MDDL development and are interested in finding
candidates to test the validity of the MDDL schema. If you are interested in
working with us as a pilot case study, please contact
Michael Atkin.
MDDL 2.0
documentation is in process. The technical specification is being edited and
an implementation overview is being written.
James Hartley (Reuters)
is the Chair of the Technical Committee. All comments and questions about the
specification and developer requirements should be directed to him.
