HOW RIXML WORKS
The primary objective of the RIXML specification is to provide extensive capabilities for tagging any piece of financial research content, in any form or media with sufficient metadata information to allow research users to search, sort and filter the published research and to provide highly relevant information to decision-makers. RIXML utilizes XML (eXtensible Markup Language), the global standard for data sharing between internet applications.
Why XML?
The eXtensible Markup Language(XML) is an initiative proposed by the World Wide Web Consortium (W3C) as an alternative to HTML, which currently dominates web publishing. Complementary to HTML, XML can be implemented for information publishing and data-intensive applications alike. Unlike HTML, XML is a meta-language -- i.e., it allows users to create their own markup languages or vocabularies for their own purposes.
HTML is a standard set of tags that are defined to present web pages in a web browser when a user requests a page. Any tag that is not defined as part of the HTML specification is not recognized by the browser and may be displayed as standard text. Web pages displayed in HTML can be static generic, informational, literatureor dynamic generated from information that is in some way related to the user or is customized based on the users preferences. Information in dynamic web pages can come from databases or even from other web sites; it can be either raw information as it comes from data sources, or information that is analyzed, extracted, sorted, styled and customized to create a personalized web experience for the end user.
The following example illustrates the difference between HTML and XML. Below is an example of HTML code.
<p><font name="Arial" size="3">Spectacular Quarterly Earnings Reported </font></p>
<p><font name="Arial" size="1">Earnings Announcements for XYZ Corp.</font></p>
HTML tells us how this data is going to be displayed.
In XML, the same information might look like this:
<Title>Spectacular Quarterly Earnings Reported</Title>
<SubTitle>Earnings Announcement for XYZ Corp.<SubTitle>
XML allows content to describe itself through the tags in which the data are enclosed. These tags can be leveraged to manipulate the data depending on the end users requests or requirements. Data tagged this way can be presented throught different media types(browser, cell phone, desktop application, etc.) or displayed differently (as a grid or a chart for example) on different sites, by changing the presentation style, without making any changes to the actual data.
An XML schema is a set of components and rules that represent the business vocabulary of an industry, a process or an application. Schema help define how these rules affect the components that represent the business, or how these components relate to each other. Any XML document that is created using these rules and components needs to be compliant with this schema to be a valid representation of the business vocabulary. Once the schemas are validated and embraced by an industry as the standard mechanism for communicating or exchanging information, they provide the capability for searching or filtering information quickly.
Before RIXML
Displayed below is a research report being distributed via an email attachment in a standard pdf file format without RIXML implemented. With this distribution method, the research consumer must open the pdf file and search the report for the information relevant to them.
Click image to enlarge
Image courtesy GreenJar
Results:
- Standard distribution method provides minimal information to the research consumer
- Report must be opened and searched to find relevant information
- Searching or filtering capabilities not available
After RIXML
Displayed below is a research report being distributed after RIXML has been implemented. The RIXML tagging allows the most relevant or key sections of the report to be extracted from the full report and easily accessed.
Click image to enlarge
Image courtesy GreenJar
Results:
- Emphasizes the most relevant sections of research content
- Reduces information overload by highlighting key points
- Maximizes the value of research by making it more accessible