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IMPLEMENTATION & COST

Q: What steps do firms need to take to implement the standard?

A: A buy-side firm interested in implementing RIXML will need to:

  • Work with its technology vendor or internal systems developer to adopt the standard
  • Determine what company-specific changes to the existing system will be needed, such as filtering, aggregating, sorting
  • Require content providers to adhere to the standard
  • Establish a strategy for commingling
  • Integrate RIXML into its investment process

Sell-side firms need to:

  • Classify all content according to the standard
  • Evolve their publishing tools
  • Validate their content against the standard
  • Apply the RIXML standard to their Internet strategy and other distribution models

Vendors need to:

  • Determine what application changes are needed
  • Require content providers to adhere to the standard
  • Work with RIXML.org to innovate and improve the standard
  • Contribute to RIXML’s continued growth

Q: What is RIXML.org doing to help firms implement the standard?

A: We have created an Adoption Committee at the Steering Committee level. The purpose of the Adoption Committee is to work closely with the Associate members on the implementation and adoption of the RIXML standard. The committee also provides an open forum for members to discuss adoption issues.

Q: Will firms need to purchase software to implement RIXML? Is RIXML.org planning to make such software available?

A: No.

Q: What are the technology requirements for firms to use RIXML?

A: The only technology requirement for firms to publish RIXML is the ability to add XML tags to their research. To consume RIXML, firms can use any XML tools supporting the latest W3C recommendations.

Q: Who pays for RIXML?

A: RIXML.org members pay membership fees to support the development of the RIXML standard. The members of RIXML.org are listed on our Membership page. They recognize RIXML’s value and want to have input into designing specifications that will serve as the basis for an industry-wide standard.

Q: How much will it cost to implement RIXML?

A: As with any new standard, costs will vary on a firm-by-firm basis, depending on a firm’s already existing technological systems. We do not expect that the cost of implementing RIXML will be substantial.

Q: Will small brokers who cannot afford to implement the new standard be excluded from implementing RIXML?

A: No. As they do today, brokers who cannot afford the implementation costs will be able to rely on third-party vendors, some of whom have already adopted the standard.