The Financial Information Services Division (FISD) of the Software & Information Industry Association (SIIA) plans to release an XML toolkit – dubbed XML transmission Compaction (XTC) – to aid developers using its FISDMessage protocol and support the standardization of reference data. FISDMessage, along with MDDLService, will be the transport layer for FISD’s Market Data Definition Language (MDDL), an XML-based market data standard that is being adopted by ISO’s Working Group 11 in its efforts to develop definitions for market data exchange.
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