VRXML protocol falling out of favour
NEW YORK -- The Financial Information Services Division (FISD) of the Software and Information Industry Association (SIIA) is reconsidering its role in developing the VRXML exchange reporting protocol, sources say. In an apparently separate move, the New York Stock Exchange (NYSE), which owns VRXML, has decided against renewing its membership in the group.
The NYSE, which developed VRXML and retains ownership of it, turned over development of the protocol to the FISD in 2002. The exchange hoped to standardise the reporting of market data usage to exchanges and vendors, and last year it announced that it would only accept reports in VRXML.
It became evident last autumn, however, that many industry participants are having trouble implementing the protocol. At the FISD’s market data administration conference, attendees complained that there are no
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