There have been two significant developments for LIXI standards
in the last few weeks:
We finally have a new set of draft requirements for
the Products Working Group and these are available for comment
on the LIXI website. A complete review of these requirements
is still underway but we are hoping to have this stage complete
shortly. After that, the next step will be to develop a draft
schema and “road test” it against real-world
products. A completed Product standard can realistically
be expected within Q1 next year.
On December 1, the Valuations Reference Implementation
that we have developed in conjunction with NICTA was
publicly demonstrated for the first time. Everyone appeared
to be in agreement that the Reference Implementation will
be a great tool for members looking for guidance on how to
implement the LIXI standard. The full Reference Implementation,
including process models, web services and documentation
is scheduled to be available to members in February. In 2007
we will be working with NICTA to extend this concept to other
LIXI standards.
Please keep an eye out for upcoming
meetings for Products, Commissions and Loan Servicing Working
Groups.
