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Chatting in XML Financial Messages
Pages: 1, 2, 3

Combining XML with non-XML

Integrating information, which was dynamically fetched from external and scattered data sources, the application makes the heterogeneous content accessible, whether it is being placed in the XML-native data source or in an external, non-XML data source. The instant access to any structured data is not a dream, it is a reality.

Screen shot.
When an Order message or an Execution Report is created, the business partner can use an embedded "Security Rate Monitor" receiving securities rates online from NASDAQ (click image for full-size view).

Value-added Client Services

Emphasizing value-added client services, the application extracts appropriate fragments of data from the message context and provides customers with the essential information that could never be fetched from stand-alone messages.

Screen shot.
Customer Service Department is able to notify customers by e-mail at the moment their orders have been executed. This is only one of the possible added-value services enabled by instant access to the data (click image for full-size view).

Conclusion

Business trends are intertwined with technology trends. While the business world still communicates in an asynchronous, telegraph-like way, technology has advanced to real-time communications.



We need financial applications that not only support trading but could also establish real-time chat lines between the parties involved in the trade process. The financial business world can indeed become much more efficient by the compression of trade process time.

Products and services allowing customers to adjust their business to major industry trends would

  • Focus on online processing rather than batch processing;
  • Enable contextual message processing rather than stand-alone message transport;
  • Allow concurrent, not sequential, exchange of information;
  • Allow real-time data communication, processing and update capabilities.

Creating a real-time working environment in the financial world is now a possibility; it's now possible to chat in XML financial messages.