How do we identify components (parts) of research reports that are subject to different rules?

Download the overview document

The RIXML Third-Party Data Identification Working Group working group has been created to discuss how to address the critical issue of identifying third-party content contained within research reports and other research content. The goal of this group is to determine how best to identify third-party data that may require carveouts or other special handling when research is delivered via interactive platforms or fed into AI tools.

This group will focus on the business-side aspects of this critical issue; it will develop best practice guidance and may recommend specific functionality that would be helpful to add to the RIXML Research Standard to ensure that it meets the needs of RIXML member firms and the industry in general.

Who should be involved?

• sellside firms who wish to enter into arrangements with buyside firms, vendors, or others to allow use of their content in AI tools and/or who wish to ensure that the content they provide on their own websites adheres to their contracts with third-party vendors.
• buyside firms and other investment research consumers who wish to enter into agreements with sellside firms to incorporate sellside firm research into proprietary NLP or other AI-powered tools or for other non-traditional purposes beyond that which third-party data owners currently permit.
• the third-party data providers who own the proprietary data in question.
• product vendors who are partnering with sellside firms to incorporate sellside firm research into proprietary NLP or other AI-powered tools, or for other non-traditional purposes outside of what third-party data owners currently permit.
• aggregation vendors and others who need clarity on the allowed usage of the research items they receive (and the components contained within them).

Beyond identifying the ownership of third-party content, sellside firms may also want to indicate their own ownership of content that may become componentized, for a variety of reasons.

 Additional background, key tasks, and additional considerations can be found in the working group overview document.

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If a table within a research report is populated with third-party data, the publisher's license with the vendor may forbid that data from being fed into an NLP tool. As sellside firms begin to consider allowing trusted buyside and vendor partners to use their research in proprietary AI tools, how do firms flag certain components (parts) within their research that needs to be excluded or is subject to different rules?