Industry Launch of RIXML an Unqualified Success
Nearly 50 Firms Represented at Public Forum to Review Specification for Research Distribution NEW YORK, April 10, 2001 - RIXML.org last week held a highly successful industry launch event to unveil version 1.0 of the RIXML specification. Approximately 140 attendees from 47 firms -- including broker-dealers, asset managers, third party service providers, technology enablers, aggregators, consulting firms and others -- attended the half-day event at the Salomon Smith Barney Auditorium in New York City. Attendees voiced strong support for the RIXML standard, which will facilitate the electronic exchange of investment research and improve content value. During the launch event, an overview of RIXML.org and its goals was presented as well as a technical walk-through of the specification. Several use-case scenarios were provided to explain the development process, followed by a question-and-answer session. "The high interest we received from Wall Street shows that the need for a standard approach to investment reports has become critical," said Ellen Callahan, Buy-Side Co-Chair, RIXML.org Standards Committee and Director, Equity Market Data, Fidelity Investments. "With five new research documents coming out of Wall Street every minute, asset managers’ e-mail in-boxes strain under the weight of content being sent from sell-side analysts." Technical Review Call Set for Wednesday April 11 at 10 a.m. (EST) The call will be hosted by the RIXML Technical Committee, which drafted the specification. After an object model walk-through, there will be an open Q&A. Developed by the buy- and sell-side global market leaders that make up RIXML.org, RIXML (Research Information eXchange Markup Language) is an open standard for the electronic exchange of investment research. The RIXML standard will provide a structure for classifying equity research in a way that will enable consumers of research to define specific sorting, filtering, and personalization criteria across all research publishers. "RIXML lays the foundation to transform the life of fund managers and analysts using financial research. It opens up new channels of delivery and helps to get the information out to the right people at the right time and in the right context. This is a great opportunity for sell- and buy-side managers, vendors, and technology providers alike," commented David Eisner, Chief Executive Officer of TheMarkets.com. RIXML version 1.0 is currently available for public comment until April 25 and feedback can be provided through the new RIXML.org website, www.rixml.org. The formal RIXML Specification Version 1.0 is expected to be released after the comment period and can be used in proof-of-concept trials with research producers and institutional users. These trials will provide additional insight that can be leveraged when RIXML.org focuses on version 2.0 later this year. With version 2.0, RIXML.org intends to open up the standard to other types of asset classes e.g. fixed-income and debt instruments or foreign exchange, in addition to equity research that is covered by version 1.0. Componentization and distribution will be other focal points for version 2.0. Moving forward, RIXML.org also plans to organize educational forums to share some of the ways that the RIXML standard can be used and implemented. About RIXML.org and RIXML The founding members of RIXML.org include
RIXML.org is also accepting additional participants through a new Associate Membership category. The membership category will enable additional buy-side and sell-side firms, as well as third party service providers, consulting firms, technology providers and others to have an impact on the evolution of the RIXML standard by participating in the Standards and Technical Committees of the organization. For more information about the organization and a full list of member participants, please visit the website at www.rixml.org. FOR IMMEDIATE RELEASE |
