Dow Jones contributes towards XML initiative
Dow Jones & Company will be providing its Market Data
source from Zdnetasia.com
The Dow Jones MDML has been in
production for about two years at The Wall Street Journal
Online at WSJ.com. The language is used for posting text
and statistical data on the Web site, and as a system
interchange format within Dow Jones and with entities
such as Factiva, a joint venture of Dow Jones and Reuters.
MDML is now posted at www.fisd.net, the Web site of the
Financial Information Services Division (FISD) of the
Software & Information Industry Association (SIIA).
The FISD is a forum for business and technical issues
related to the distribution of financial information. It recently
formed a group to coordinate XML efforts in the market data
"Timely market data is essential to all market participants,"
said Bill Godfrey, chief technology officer of Dow Jones.
"Dow Jones is both a consumer and supplier of market
information, and XML is a powerful new way of exchanging
data within the industry. Creating a standard, open
framework enabling data to stream across company
boundaries and multiple platforms will benefit the entire
The FISD market data work will be done in coordination
with other XML initiatives, including XBRL (Extensible
Business Reporting Language).
The XBRL consortium is developing XML vocabularies for
corporate earnings and regulatory filings. Dow Jones,
Reuters Group, and Reuters' Lipper subsidiary are all
participants in XBRL.
The FISD initiative also fits in with two XML standards
developed by the International Press Telecommunications
Council, of which Dow Jones, Associated Press, and
Reuters are all members. The first is the NewsML - an
model for packaging and managing news objects of any
media type; the second being the News Industry Text
Format, an application for markup of news text.