By Anthony Guerra. By agreeing on one protocol to describe such information, which comes in many different forms including Word, Excel and PowerPoint documents and audio and video files, financial institutions are trying to create stores of research data described by a uniform protocol. That means searches through such a body of data are highly inefficient and often fruitless. He further explains the dues by noting that it took a while for FIX to get off the ground because it was not a funded effort. A 30-day comment period will follow when the group will look at submitted concerns and suggestions, acting on those they deem legitimate.
Standards continue to proliferate.
By Maria Trombly. Yet another XML-based standard has been added to the library of protocols being developed for financial services. A draft of the specification is expected within the next four months. N.J.-based DLJdirect Inc. A comment period will follow the draft release. Other standards, such as Financial Information Exchange Markup Language, deal with processing trades.