*First book to present the business case for MDDL adoption and implementation
*Identifies the challenges and significance of the standard, examines the business and market drivers and presents decision makers with a clear, concise and jargon free read.
*Technical material is set off from the text for systems analysts and provides comprehensive explanations of terms, context and deep hierarchical structure, thus enabling them to create MDDL compliant interfaces.
The aim of this book is to provide an objective vendor independent assessment of the Market Data Definition Language (MDDL), the eXtensible Mark-up Language (XML) standard for market data. Assuming little previous knowledge of the standard, or of systems networking, the book identifies the challenges and significance of the standard, examines the business and market drivers and presents decision makers with a clear, concise and jargon free read.
Technical material is set off so that Systems Analysts are provided with an explanation to the standard’s business terms, context and deep hierarchical structure thus enabling them to create MDDL compliant interfaces. In this way, the book confers the knowledge to enable business and technology professionals to converse comfortably regarding financial systems integration.
Primary audience: IT Directors, Business/Systems Analysts and IT Project Managers in the Financial Services Industry.
MDDL and the Quest for a Market Data Standard, 1st Edition
Ch 1 Introduction
Audience of this book
Structure of the book
Ch 2 What is Market Data?
Ch 3 Executive Summary
Linking MDDL to corporate goals
The business Benefits of using MDDL
Ch 4 The financial XML landscape
Market data is everywhere
Ch 5 Self-describing data and XML basics
Elements, attributes and hierarchy
Ch 6 Evolution of MDDL
Schemas, no longer Document Type Definitions
Ch 7 How MDDL works
Synopsis of the MDDL hierarchy
Classes and subclasses
MDDL property types
Industry standards used in content
Creation of new types
Classification f properties
Creating an extension schema
Defining code lists (controlled vocabulary)
Ch 8 The life of a financial instrument
Pricing and reporting
Time and sales
Ch 9 Regulatory adherence
Reference data terms
Data vendors and end of concentration rules
Ch 10 Reference data management
Indices, rates and indicators
Corporate action events
Security definition terms, an alternative solution
Ch 11 Industry standards - Mix and Match
MDDL to FIX, FIX to MDDL
MDDL and FIXml
ISO standards in the financial sector
ISO 19312 and MDDL
MDDL and ISO 20022
Ch 12 MDDL as payload
MDDL and SOAP
MDDL and FIX payload
MDDL as ebXML or OAGIS payload
Ch 13 "Build-your-own" -MDDL equivalent schema
Ch 14 UML to XML schema generation
Ch.15 Undertaking a mapping exercise?
Data mapping process
Data mapping pointers
Ch. 16 Compression
Ch. 17 A Final tribute to John Castaing