The Financial Information Services Division of the Software and Information Industry Association (FISD) has released a new MDDL 3.0 Open Source licence for the financial information industry. MDDL, or Market Data Definition Language, is an open industry standard XML dialect for securities market data. The announcement of the new licence aims to remove possible ambiguity regarding intellectual property issues associated with using MDDL. “This confirms that MDDL is an open standard and, since it is a ‘non-GPL’ licence, it is not subject to ‘downstream’ licensing concerns,” according to Bill Nichols, programme director for securities processing automation at FISD.
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