As the RIXML organization was originally developing the RIXML Research Standard, and throughout every subsequent new standard and revision, there have been three guiding principles that the organization has kept in mind:
Guiding Principle 1: The RIXML Standard Suite must provide an improvement for all parts of the research distribution and interaction description processes
The sheer magnitude of investment research available today, the increasing number of distribution channels, regulatory changes and an unprecedented need to navigate this content efficiently means that a sophisticated method of describing investment research information and capturing interaction, coverage, and roster information is essential.
For investment research:
Content Producers need a way to ensure that content is seen by their target audience.
- RIXML’s sophisticated structure enables content producers to provide exact tagging that better describes the content, which makes it more likely that it will be seen by those most likely to find it valuable.
Content Aggregators need to be able to deliver value-added products and services
- RIXML’s rich tagging expedites searching and accessing content, reduces information overload, increases efficiency, and improves access to research by standardizing sorting and filtering criteria.
Content Consumers need to be able to deliver value-added products and services
- RIXML's standardization of tags enables development of sophisticated tools and services to address a variety of needs.
Guiding Principle 2: The standards must be able to expand and evolve to keep up with technology and business changes
When investment research reports first began to be distributed electronically, adding a few simple tags like title, author, date, and ticker provided enough information for a user to determine whether the report would be useful to them. Now, however, the nature of electronic research report distribution has evolved. How?
- More research – millions of research reports are distributed each year.
- More distribution channels – originally, reports were distributed via email and through one or two major vendors. Now, there are many more vendors distributing research, and many buy-side firms have their own data repositories as well.
- More sophisticated distribution channels – consumers are demanding the ability to be alerted in a more sophisticated manner, to search in a more targeted way, and to receive just the reports – or parts of reports – that fit their needs.
Unfortunately, the tools used to create and distribute research had not evolved to handle these changes. The RIXML Research Standard was designed to be able to keep up with changes in the marketplace and was designed to be device-, product-, and distribution channel-independent.
Guiding Principle 3: End users must be able to benefit from RIXML without even needing to know it exists
RIXML is a suite of technology solutions to a set of business needs – the need to better manage the huge amount of investment research and deliver it to the end user in a targeted, precise manner and the need to capture interaction information accurately and consistently in order to comply with MiFID II. However, the solutions are implemented behind the scenes. End users will notice that their search results are getting better, or that content producers are delivering content formatted for optimal viewing on mobile devices, or that vendors are creating products that deliver better integration between investment research and other investment data, but they don’t need to know about RIXML to do so.