Hi
I was wondering if RIXML in general has failed to live up to its initial hype?
Is there any data available on adoption rates by sell and buy side institutions?
Any examples of firms realizing ROI on RIXML technology investments?

With Research Depts. at most institutions coming under the budget cut axe, i guess it is unlikely that any bank will be willing to invest additional sums of money in technologies such as RIXML.

Rgds
Mukund
MindTree Consulting

Dying? Failed?

No.

The industry is taking longer to adopt RIXML broadly than we had hoped back in 2000 mostly because of degrading market conditions and a shift in focus toward changes in the regulatory environment. These two factors are external in nature, and not reflective of the applicability of RIXML to the problems we originally sought to address. We believe RIXML represents an improvement in the way investment research is tagged and distributed. The RIXML member firms are just as committed to the standard today as we were in 2000.

Also, bear in mind that the RIXML organization goes on hiatus each summer, so there is little activity during those months. We just had our Fall kick-off meeting on September 18th in Boston. Attendance was excellent and the discussion was lively. The sell-side, buy-side, and vendor communities were all well-represented. Version 2.1 of the RIXML standard will be announced shortly, along with an overhaul of the RIXML.org web site.

As far as ROI, we are in a period where the IT investment made by member firms to put RIXML to work is mostly still in-progress. We believe that firms will see benefits in the next 12 to 18 months if they aren't already. Some RIXML implementation projects which now exist behind-the-scenes will become more visible. And some will remain behind-the-scenes. The Tower Group published a report on RIXML adoption a few months ago. That piece provides some additional insights.

Our membership is strong and committed. And we are making progress in spite of adverse market conditions. Thank you for your interest in RIXML. Please feel free to use this message board to stay in touch.

Thanks for the response. Do you have a sense of what the market size ($) is for RIXML implementations? Who are main implementors?

Thanks.

quote:

Originally posted by Sal Restivo:
Dying? Failed?

No.

The industry is taking longer to adopt RIXML broadly than we had hoped back in 2000 mostly because of degrading market conditions and a shift in focus toward changes in the regulatory environment. These two factors are external in nature, and not reflective of the applicability of RIXML to the problems we originally sought to address. We believe RIXML represents an improvement in the way investment research is tagged and distributed. The RIXML member firms are just as committed to the standard today as we were in 2000.

Also, bear in mind that the RIXML organization goes on hiatus each summer, so there is little activity during those months. We just had our Fall kick-off meeting on September 18th in Boston. Attendance was excellent and the discussion was lively. The sell-side, buy-side, and vendor communities were all well-represented. Version 2.1 of the RIXML standard will be announced shortly, along with an overhaul of the RIXML.org web site.

As far as ROI, we are in a period where the IT investment made by member firms to put RIXML to work is mostly still in-progress. We believe that firms will see benefits in the next 12 to 18 months if they aren't already. Some RIXML implementation projects which now exist behind-the-scenes will become more visible. And some will remain behind-the-scenes. The Tower Group published a report on RIXML adoption a few months ago. That piece provides some additional insights.

Our membership is strong and committed. And we are making progress in spite of adverse market conditions. Thank you for your interest in RIXML. Please feel free to use this message board to stay in touch.

I'm sorry, but we don't have dollar figures available for RIXML implementations. But I can tell you that since my earlier post here, many member firms have advanced their adoption status. I believe the sell-side members are taking the lead in their RIXML publishing capabilities, followed by the principal aggregator vendors. I don't want to speak for any specific members, so if anyone else cares to chime in with individual comments on status that would be useful. Also, you might take a look at the article in this week's issue of Securities Industry News entitled "RIXML Rising: Research Filtration Makes a Comeback". Thanks very much for your interest.

We recently dealt with a client who wanted to establish a robust delivery channel for publishing their content for their clients. But RIXML was rejected outright by them only because the client were not able to get figures relating to benefits of adopting RIXML. They did see the long term benefit, but preferred the wait-and-watch approach.

1. Do we have figures (by study conducted by RIXML.org or third party) on what are the potential savings for both buy and sell side?

2. Can someone provide with an example of a sell-sdie firm adopting RIXML and if so, to what extent?

Thanks for your comments. We don't currently have data on market size, adoption rates, or cost benefits. However, it seems clear that there is an interest. I spoke to our Steering Committee yesterday about your inquery, and found them open to consideration. Our next meeting is in a couple of weeks. We'll add this topic to the agenda, and see what we can come up with.

Hi

I would like to know whether any of the above mentioned stats are available yet?

Rgds
M

We did discuss this topic in a past Steering Committee meeting. Our budget and priorities did not permit investing funds in the type of study requested by the posters above.

Naturally, I'd rather not hear that RIXML was rejected outright by a potential beneficiary due to lack of a cost-savings study. The value proposition of RIXML is not about providing the lowest-cost solution among a marketplace of competing products. RIXML does not cost anything -- no procurement costs, no licensing costs. RIXML is not even a product. The only costs are what you might spend on applying the RIXML standard to your business strategy. RIXML is the only standard in this space, backed by our member firms, who carry some weight in the industry. Most top-tier sell-side firms are already tagging their research publications in RIXML format. Most top-tier research platform vendors are already ingesting research publications tagged in RIXML format. Since we've launched RIXML, no alternative formats have been presented broadly within the industry.

It's certainly reasonable for you to look for cost figures when thinking about how to allocate your resources. But I would ask: If your business has an interest in tagging investment research, what alternatives to RIXML are you considering? To what should the hypothetical cost figures be compared? If you need to tag investment research, your choices are: use RIXML for free, license one or more proprietary formats, or create one or more new formats yourself. Unless RIXML fails to meet your needs on a technical basis, I don't see any reason not to use it. The schema design work is already done for you. It is supported by major firms in the industry. Implementation costs should not exceed those for any comparable alternative solutions.

Maybe my comments are not very helpful to you. For that I'm sorry. I do appreciate your interest in RIXML and I hope you can benefit from the work our organization has done. Best of luck with your business intiatives.

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The value proposition of RIXML:

To a great extent, RIXML has already become the lingua franca of investment research tagging. Any organization wishing to participate in the market's conversations should be tuned-in to RIXML.

Research consumers get a richer, more directed, more effective searching experience. The path to the best ideas gets shorter. They save time!

Technology systems become more streamlined and easier to build and use. The incremental cost of adding a new conversant or a new research platform to existing infrastructure goes down. Technology gets cheaper!

The data open to cross-publisher information mining suddenly broadens. Every kind of market participant has more power to apply new techniques to existing information that's been historically cumbersome and even opaque. Translate data into ideas!

Organizations already invest so much into research products. RIXML opens new doors into those products and provides new opportunities for realizing benefits.

I joined to get a sense of the community using RiXML and from what i'm able to see its a standard that started in 2003 and 7 years later its unclear what progress has occured.

It may simply be because the level of access granted was only to the RiXML.org forums and not the steering committee or workign groups but the last working group post was april 2009 and steering committee was april 2009

Hello, Rick. As you have observed, our discussion forums have fallen into disuse. They never really took off as a significant channel for us. We've already decided to decommission them. We just haven't yet completed our next web site re-vamp, in which the forums will be archived and removed.

Note, though, that the organization itself marches on. We continue to meet quarterly. We continue to attract new member firms. And the adoption of our schema in the marketplace continues to broaden.

If you wish to engage with us, please contact us at rixml@jandj.com. Jordan & Jordan handles our organizational needs, including managing our mailing lists and web presence. We'd be happy to respond to your questions and receive your input.

Best regards...