Product
MDDL uses the term product to denote the collection of properties and the inherent relationship between those properties necessary to define a financial instrument or asset, indicator or average, or corporate action or event relevant to market data. Examples of products include Mutual Fund Collective Investment Vehicles and Common Equities. MDDL products encapsulate that collection of data needed to define a financial instrument, indicator, or corporate action within a construct.

MDDL products are named consistent with the Domains, Classes, and Subclasses identified by the Vocabulary Committee. The element names are postfixed with the designation of Domain, Class, or Subclass as appropriate for convenience to the human reader. For example, the Equity Domain identified by the Vocabulary Committee is given an XML element name of equityDomain.

For each MDDL element defined as a product, an additional container element is defined postfixed with the designation Group. For example, the equityDomain element has a corresponding equityDomainGroup. The Group is only a child of its respective product. The Group may contain as its child any of the content the product may contain as well as the Group itself.

The Group container is used as a holder of properties that are common to all of its children. A product may contain multiple Groups where each Group defines a different set of common properties to be inherited by all of its descendants. For example, an equityDomain product in an instance may contain two equityDomainGroup child elements where one defines a currency of Euros and the other defines a currency of Japanese Yen.

Adding Products

The extension element other of the main constructs can be used as a container for any namespaced products that the MDDL sender would like to add. It is recommended that these extensions match the style and spirit of the other MDDL products. Those who provide extensions are encouraged to discuss these with the MDDL organization for inclusion in future versions of the specification. Widespread adoption and use of products increases the validity and value of this interchange specification.