Common Message Standards for Electronic Commerce in Wholesale Financial Markets
Hills, Bob, "Common Message Standards for Electronic Commerce in Wholesale Financial Markets" . Bank of England Quarterly Bulletin, August 2000 Available at SSRN:
An important aspect of electronic commerce is the potential for market participants to automate transaction processing fully, from the point of trade to final settlement. Such 'straight-through processing' could make wholesale financial markets more efficient, and lower the costs and risks that participants face. But it requires participants to use common message standards to exchange transaction data electronically. Several market-led initiatives to develop common standards have made substantial progress. But many trade messages are still sent by fax or using incompatible electronic networks, which means that different participants may have to re-input the same data manually at various points during the trade process. This article describes some of the initiatives to establish common standards. It then looks to economic theory to explain why market participants may find it difficult to co-ordinate to introduce a single standard, in spite of the wider benefits. It discusses how such technological changes may affect market structure. Finally, it considers whether some recent technologies, in particular eXtensible Markup Language (XML), may make it easier for market participants to adopt common standards.Go to article
Click here to see more on this topic.
Previous visitors have searched for information on lotus notes viewer, automation domino force lotus sales and call domino lotus network notes notes procedure protocol remote. We do collect this information to update our site to your needs.
Lotus Notes is used by more than 100.000 people world wide. Other e-mail clients are: WebPine , mailx and Netscape and other personal information manager software are: Google Calendar , Lotus Organizer (Windows) and PersonalBrain (Windows) .