Applicability to Categories of Implementors
Sources: Benefits to sources of information (exchanges, markets, creators, ratings agencies)
Normalizes the external inputs to a consistent format thus eliminating feed-specific systems.
Enables convenient maintenance of data feeds.
Helps with realizing cost reduction.
Simplifies and reduces burden of instructing down-stream recipients on data format and content.
Captializes on ready supply of customers expecting standard format and description of data.
Distributors: Applicability to distributors of information (data vendors & redistributors)
All the beneifts of sources as well as the benefits of users!
Enables focus on adding value in terms of depth, breadth, access, and quality of data.
Eliminates the need for independent feed handlers for each exchange, market, or third-party providers.
Supports entitlement and permissioning requirements in an normalized fashion.
Provides a mechanism for validation and data quality by standarizing data field names across multiple sources.
Supports the automation and security identification requirements of Securities Processing Automation (SPA) and STP.
Allows better communication between vendors and sources thus avoiding delay in processing data.
Users: Benefits to users of information (market data users, brokerage houses, banks and financial institutions)
Provides standards for common request/response interface for retrieving data.
Enables integration of data from multiple sources by standardizing input feeds as well as data warehousing services.
Clarifies data field definitions thus providing transparency and permitting accurate processing within applications.
Provides cost reduction through translation of multiple data feeds into a common internal XML format.
Isolates user's processing from specific provider's formats thus reducing operation risk while enabling efficient new data integration.
Enablers: Applicability to enablers of information services (technology companies and solution providers)
Reduces duplication of efforts while maximizing resources available for implementation assistance.
Minimizes risk from business based on a particular source or vendor.
Improves system scalability by focusing efforts on single format.
Reduces the need to support multiple solutions across business units, which is inefficient and not cost effective.
Helps in interpreting various data sources accurately.
