Delivering on its promise made in early May, Integral Corporation announced today the general availability of FinXML 1.0, a standard data interchange language for capital markets. As a next step, FinXML DTDs will be mapped to other XML approaches in the financial industry unifying industry efforts. The FinXML consortium will provide a safe and open choice that supports emerging XML standards to foster and accelerate adoption of XML in the financial industry.
Open standards are critical to the adoption of a new technology.
Sun sees FinXML emerging as another important specification for cross-system interoperability in capital markets, leveraging XML's Portable Data potential with Java technology's proven portable application model. FinXML is expected to mature and expand with feedback from the consortium. Just as FIX, S.W.I.F.T and the ISDA have contributed to building a standards-based platform, we see XML as the solution for data interoperability between our systems and with our customers. Initiatives like this will speed up the move to common financial industry standards. Current vocabularies support a broad set of elements and attributes that represent financial transactions, reference data, market data, payments, settlements and confirmations.