Click here for photos

Agenda
March 23, 2004 v 2:00-5:00 p.m.
Location: Euronext, 39 rue Cambon

ITEM 1: FISD's New Operating Structure (and how to participate)

The FISD Executive Committee has implemented a new organizational structure designed around FISD’s two major project areas (market data business issues and securities processing automation issues). The new structure is designed to ensure accountability and organizational buy-in for our activities - as well as determine how the agenda is to be articulated on an industry-wide basis. Members need to be aware of how to leverage and participate in the new structure.

ITEM 2 - Market Data Business Issues

The Market Data Business Issues Advisory Committee is responsible for billing and reporting, market data policy and data usage/redistribution issues. On the billing/reporting side -- virtually everyone agrees with the logic of a standard input/output format and common glossary using VRXML. The core objective is to expedite the implementation of the core VRXML infrastructure and plan the strategy for extending it as the basis for ongoing administrative automation.

Recent discussions have demonstrated growing interest on data usage policies and the challenges of controlling market data redistribution in datafeed environments. FISD’s new redistribution project has been established by the members to address three core issue areas: (1) the development of rational and flexible licensing terms and conditions, (2) the challenges of market data policy communication for compliance, and (3) ways to overcome the difficulties of tracking (and assuming liability for) downstream applications as they move through multiple distribution channels.

ITEM 3 - Fragmentation and Market Structure Roundtable

This moderated discussion will build off of the February Issue Brief on Market Fragmentation and focus on the factors that are driving structural change within European markets - including exchange competition, multiple listings, branded market data, the blurring of the lines of distinctions among segments, and the activities of global regulators.

ITEM 4 - Securities Processing Automation

The new Securities Processing Automation Advisory Committee is responsible for reference data standards, symbology, MDDL and activities associated with
standard distribution protocols. And there has been a significant amount
of activity on all sides.

On the standards front, FISD is now a direct liaison to TC68/SC4 and an active participant on Working Group 8 (business entity identification) and Working Group 11 (data model and standard vocabulary) - as well as a participant on standards working groups within SIA, REDAC, ISITC and RDUG. In addition, industry response to the whole spectrum of MDDL activities - including the core specification, mddlQuery, mddlService and fisdMessage -- has been far beyond expectation.

Without being overly optimistic, we believe all of these activities work together to form the foundational basis of a reference data (and general market data) strategy within financial organizations. We also believe these activities are positioned correctly and organized with enough flexibility to deliver (at least have the potential to deliver) effective standards in a reasonable timeframe. We intend on using this meeting to put our securities processing and distribution ‘cards on the table’ for member scrutiny before we advance the discussions to the next logical level.

ITEM 5 - FISD Member Updates

Members interested in making announcements of interest to the general membership should contact Mike Atkin at: matkin@siia.net <mailto:matkin@siia.net>

ITEM 6 - The FISD Plan Going Forward (including schedules and meeting dates)

This will be an operational discussion focusing on budgets, communication strategy, deadlines for key deliverables and the proposed schedule of FISD-related meeting dates.

Please join us following the meeting for a reception hosted by Euronext.

Working Group Meetings
March 24th,  9:00 am - 4:00 p.m.
Location: Reuters France Benelux Iberia, 6-8 Boulevard Haussman

09:30-12:30 Securities Processing Automation
This meeting will focus on all of the issues related to processing transactions. Included will be discussions of business entity identification standards, data model and vocabulary standards, and the future of Market Data Definition Language. The purpose is to get people plugged into the right discussion at the right level.

1:30- 5:30 Market Data Business Issues
This meeting will focus on the use of VRXML as a standard input/output format and how it can improve the efficiency of administration processing. There will be an open forum on the core contractual issues (including data usage and redistribution) facing the industry. The participants will suggest what FISD can do to facilitate discussions in these areas.

Click here for registration information

Click here for a list of attendees

Nearby hotels include: