The New York Stock Exchange has developed a draft XML standard for market data billing and reporting.
Slated for introduction by the end of the year, the new Vendor Reporting eXtensible Markup Language (VRXML) schema initially deals with Nyse reporting obligations but could be extended to cover a broader set of industry requirements. These include the development of more value added services for vendors and their customers and interoperability with industry-accepted data transfer methodologies for straight-through processing.
The US exchange is working with the Financial Information Services Division of the Software & Information Industry Associaction to to gather comments prior to implementation.