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Standards: A Simple Plan

At 04 Jun 2008 15:39:56 in A-Team Delivery Terms, A-Team Free, A-Team Insight Quarterly, ATIQ-Features, ATIQ-Issue 4 - Q2 2008, RDR-Industry Initiatives, Reference Data Review    Print Article  Email Article   Full content is free with registration 

By Virginie O’Shea, Contributing Editor, A-Team Group

Given the chequered history of previous attempts to force standards convergence, are the recent plans for an ‘investment roadmap’ doomed to failure, or is interoperability the answer to the industry’s problems?

If there is one thing that the financial services market is certainly not short of it’s messaging standards. The proliferation of these different messaging protocols stems largely from their historical development; different players in the financial markets developed them in relative isolation from each other. For example, Financial Products Mark-up Language (FpML) was developed by JPMorgan and PricewaterhouseCoopers specifically for the OTC derivatives market, whereas Salomon Brothers and Fidelity Investments established the FIX protocol for pre-trade communication for use in the wider securities market.



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