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Market Data Definition Language (MDDL) Vocabulary Committee Mar. 29 Meeting

April 3, 2001


Organizations Present

Bank of NY, Bloomberg, Dow Jones/WSJ, FISD, Interactive Data Corporation, Lipper, Merrill Lynch, Morgan Stanley, Nasdaq Stock Market, Standard & Poor's, Telekurs Financial

Meeting Objectives

The primary goals of the meeting were to: get clarification and agreement on the objectives and operating strategy of the Vocabulary Committee; get clarification and agreement on the real world problem(s) to be solved by MDDL; and discuss the strategy for building the master glossary of product information domains, classes and data points to be included in phase one of the project.

The deliverables from the Vocabulary Committee are (1) the category and descriptor domain summaries, (2) the glossary of definitions, and (3) the relationship structure between categories and descriptors.

MDDL Category Domain Summary

The participants confirmed the structure of the three primary MDDL vocabulary categories: 1) financial instruments (asset classes) including identifiers and current/historical values; 2) Indicators and other market-related information; and 3) corporate events, including information affecting corporate value and instrument tradability.

Participants shifted some domains from one category to another. For example, indexes, averages and rates were moved to the indicators category. Some of the domains were combined. A second version of the data dictionary will be published and posted on the web shortly.

  • Kevin Roche (Dow Jones) was asked to perform the function of data dictionary editor. He will be responsible for updating and FISD will only post new versions after authorization from Kevin.

  • Dennis Monaco (Merrill Lynch) agreed to develop the "derivatives & contracts" domain incorporating options, futures, warrants and annuities.

  • Sara Banerjee (Telekurs) agreed to compare the MDDL domain summary to the CFI structure.

  • Rich Robinson (BONY) agreed to define the classes for corporate events and to incorporate the approach used by ISO 15022.

  • MDDL will work with FUNDEX (an informal group of global vendors in the mutual fund market) on the taxonomy of the fund domain. Garrett Driscoll (Lipper) is our conduit to this group.

  • Mike Atkin (FISD) will coordinate with FIBV (the exchange trade association) on the definition of exchange statistics.

Element Domain Summary

The Category Domain summary includes the taxonomy of "things." The Element Domain summary will include the "descriptors of things." Rich Robinson (BONY) agreed to make a first attempt at developing the element domain taxonomy.

Next Meeting

The next meeting of the Vocabulary Committee is scheduled for April 19 from 9-1 at the Bank of New York (1 Wall Street, 11th Floor, Conference Room 1). RSVP to John Jordan at jjordan@siia.net. All assignments listed above are due on or before April 10.

 

 

 

 

 

 



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