From the time the RIXML organization was originally formed, and throughout the development and revision of all our standards, there have been three guiding principles that the organization has kept in mind:
Guiding Principle 1: The RIXML Standards Suite must provide an improvement for all participants in the process
Because our standards have been built by a consortium of buy-side firms, sell-side firms, and the vendors that create products for them, they have been specifically designed to meet the needs of our industry. They ensure compliance with all relevant industry regulations and guidelines, and they address the content creation, distribution, consumption, reporting and management needs of all types of firms in the industry.
Whether you are a provider of investment interactions or research content, a consumer of them, or a vendor working to create solutions for the industry, the RIXML Standards Suite offers the detailed, specific tagging structure you need.
Guiding Principle 2: The standards must be able to expand and evolve to adapt to technology and business changes
The RIXML Standards Suite is designed to keep up with changes in the marketplace and is device-, product-, and distribution channel-independent. From the very start of our organization, a key goal was to ensure that our standards can change and evolve as our industry does. The first version of our Research Standard covered only equities, yet we intentionally overbuilt certain tag sets so that different asset classes, with their different tagging requirements, could easily be added in future releases. When firms needed a way to comply with the European Union’s MiFID II regulations, we were able to leverage many of our existing tag sets and add additional ones to address the specific content needs of interactions.
Guiding Principle 3: End users must be able to benefit from RIXML without even needing to know it exists
RIXML is a suite of solutions addressing a number of business needs, including the need to better manage and organize the huge amount of investment research in the marketplace today and the need to capture interaction information accurately and consistently in order to comply with the EU’s MiFID II directives. However, these solutions are implemented behind the scenes. End users will notice that their search results are getting better, that content producers are delivering content formatted for optimal viewing on mobile devices, that vendors are creating products that deliver better integration between investment research and other investment data, or that they are able to easily compile the information they need about their firm’s MiFID-related interactions, but they don’t need to know about RIXML to do so.