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MDDL and the Quest for a Market Data Standard - 1st Edition - ISBN: 9780750668392, 9780080551777

MDDL and the Quest for a Market Data Standard

1st Edition

Explanation, Rationale, and Implementation

Author: Martin Christopher Sexton
eBook ISBN: 9780080551777
Hardcover ISBN: 9780750668392
Imprint: Butterworth-Heinemann
Published Date: 22nd August 2007
Page Count: 320
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Table of Contents

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 XML 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
MDDL domains
Classes and subclasses
Containers
Propoerties
MDDL property types
Industry standards used in content
Creation of new types
Classification f properties
Controlled vocabulary
Top-level wrappers
Instance headers
Inheritance
MDDL extensions
Naming convention
Creating an extension schema
Defining code lists (controlled vocabulary)

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 - Mix and Match
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

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
xtcMassage (fisdMessage)
FASTS

Ch. 17 A Final tribute to John Castaing


Description

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.

Key Features

  • 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

Readership

IT Directors, Business/Systems Analysts and IT Project Managers in the Financial Services Industry


Details

No. of pages:
320
Language:
English
Copyright:
© Butterworth-Heinemann 2007
Published:
22nd August 2007
Imprint:
Butterworth-Heinemann
eBook ISBN:
9780080551777
Hardcover ISBN:
9780750668392

Ratings and Reviews


About the Author

Martin Christopher Sexton

At 19, Martin was the youngest person ever to pass the Higher National Certificate in Computer Studies and Business Organisation with Distinction.

After spending a number of years as a Computer Games Designer, Martin was eventually lured by the bright lights of the “City”.

He is a Principal Consultant with over 15 years experience in the financial industry. Martin has been responsible for interface design and data feed developments at a number of large financial institutions, including Euronext.Liffe (the Pan-European Stock Exchange), Credit Suisse First Boston, Reuters and Cantor Fitzgerald International.

Having written White Papers on the deployment of MDDL and a number of articles published on industry standards Martin has put his years of experience into this publication.

Affiliations and Expertise

Director, Information Technology, London Market Systems Ltd, UK