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.
Ch 1 Introduction Audience of this book Structure of the book Conventions Ch 2 What is Market Data? Ch 3 Executive Summary Vision Linking MDDL to corporate goals The business Benefits of using MDDL MDDL opportunities Ch 4 The financial MDDL landscape Industry Standards Market data is everywhere Ch 5 Self-describing data and XML basics Elements, attributes and hierarchy Ch 6 Evolution of MDDL MDDL Versioning Schemas, no longer Document Type Definitions Ch 7 How MDDL works Synopsis of the MDDL hierarchy Ch 8 The life of a financial instrument Issuance Pricing and reporting General pricing Historical pricing Book management Trade reporting Time and sales Reconciliation Portfolio valuation Ch 9 Regulatory adherence Reference data terms Best execution Regulatory reporting Data vendors and end of concentration rules Ch 10 Reference data management Business entities Indices, rates and indicators Corporate action events Security definitions Security definition terms, an alternative solution Change mechanism Ch 11 Industry standards - mixed and matched MDDL to FIX, FIX to MDDL MDDL and FIXml FpML RIXML XBRL SDMX ISO standards in the financial sector ISO 19312 and MDDL MDDL and ISO 20022 On the Horizon 9. MDDL Document Templates 10. Glossary & Acronyms 11. Further Reading 12. Index