Both are scheduled to meet before the end of February. For more information, contact Michael Atkin at FISD headquarters. The purpose was to refine the scope of MDDL, establish the basic operational structure of the activity and determine the next steps associated with the project. The Steering Committee agreed to the primary objective as the development of a generic XML-based interchange format of the fields needed to describe a financial instrument and its price. MDDL decision-making will be managed on a consensus basis wherever practical.
Operational decisions require a simple majority vote.
Participation is open to all interested parties. The Technical and Vocabulary Committees are now being formed. Both are scheduled to meet before the end of February. The next meeting of the Steering Committee is tentatively scheduled for the 3rd week in March. The group left open the possibility of additional participants.