RIXML.org has selected KPMG as the technology partner to facilitate the development of the business cases and the document type definition (DTD) for the Research Information exchange Markup Language (RIXML) specification. KPMG will handle the logistical issues associated with the development of the standard, collecting and documenting the requirements and the necessary data that the firms are providing for the specification.

Last into the fray was a third consortium, consisting of investment banks and money management firms who declared their intention to create their own standard for investment research called RIXML. First Call has since abandoned its efforts to develop its own standard by itself and plans to work with the RIXML consortium in the future

RIXML.org, the industry-led consortium vying to create a standard for XML delivery of investment research, has appointed KPMG Consulting as the contractor to develop the initial specification of the standard. The RIXML.org issued a request for proposals for a contractor to produce a specification in the summer, and received six responses. KPMG consulting was the unanimous choice of the RIXML.org Steering Committee.

On First Call's position, Doug Morgan, Executive VP of First Call, says "We have chosen to support the effort that we think is most credible in the creation of a single public standard." He adds, "The RIXML effort has the greatest degree of credibility associated with it because of the nature of the firms involved, their commitment to it and the fact that it is a cross-industry consortium of both buy- and sell-side firms."

Last into the fray, but the one with the most backing from within the market, was the Research Information exchange Markup Language (RIXML) consortium. Although it has yet to publish its own DTD, its main advantage is that it is a market-led initiative and vendor-neutral. "RIXML is the first time leading buy- and sell-side firms have got together over research. Our aim is to drive a common standard, rather than focus on the platform, says Joe Sommer, CO-chair of the RIXML Steering Committee.

Yet another XML-based standard has been added to the library of protocols being developed for financial services. Research Information exchange Markup Language (RIXML) promises to make it easier for investors to share data about companies. A draft of the specification is expected within the next four months.

A group of five leading investment managers and ten broker dealer firms is spearheading the creation of a global industry association of buy- and sell-side firms to develop an open standard for the electronic exchange of investment research. The new organization called RIXML.org, is seeking to advance a new specification known as RIXML, an acronym for Research Information exchange Markup Language. RIXML is based on XML, an emerging standard for data sharing between applications.

Following the industry's penchant for creating new standards, a group of five fund managers and ten broker dealers have created a new specification for the creation and dissemination of broker research reports on the Internet.

An association of buy-side and sell-side firms has organized itself around the domain name RIXML.org in order to engineer an open standard for electronic dissemination of investment researchÉThe impetus to develop Research Information exchange Markup Language came from earlier efforts to standardize and streamline the exchange of financial information, that led to the development of the FIX protocol.

A group of major asset managers and broker/dealers has teamed up to develop a standard protocol for the exchange of research. High-rolling industry players, including Fidelity Investments, Putnam Investments, T.Rowe Price, Merrill Lynch, Goldman Sachs, and Morgan Stanley have joined forces to create an organization called RIXML.org, which is developing a standard called Research Information exchange Markup Language for firms to use when developing their online research reports.