Top Financial Firms Architecting with XML

November 11, 2005

Found this item on Robin Coverís must-read XML.org Daily Newslink. Last month, Reuters unveiled a new XML-based secure trade notification system that enables financial institutions to manage their trading capital and risk exposures better as well as improve operational efficiency. Reuters’ service, already selected by Lehman Brothers, offers a trade messaging hub to make a variety of financial integrations easier and cheaper. At its core, Reuters Trade Notification Service (RTNS) is a trade messaging hub that facilitates the electronic transfer of all trade related messages. The service is already operational and is undergoing a controlled introduction. RTNS will initially focus on trade affirmation and confirmation, and will be expanded to cover allocation and settlement instructions, amongst others. The service will support industry standard message formats such as FIX, FPML, as well as FIX and TWIST. FpML provides an overall template for execs in other vertical industries how they might map XML (schema and transmission) concerns to their needs for dataflow, business rules and access control. The FpML standard, which is freely licensed under the FpML public license, is intended to automate the flow of information across the entire derivatives partner and client network, independent of the underlying software or hardware infrastructure supporting the activities related to these transactions.

Links of interest:

FIX, FPML, TWIST, XML, Teuters, RTNS, Robin Cover, messaging, schema

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