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International XBRL Taxonomy Improves Likelihood of Interoperability with Other Financial XML Standar

The release last month of an International Accounting Standards (IAC)-compliant version of the XBRL (for eXtensible Business Reporting Language) schema for business reporting appears to opened the door for increased interoperability with other schemas for managing market data and research. The new XBRL schema has been welcomed by working groups such as MDDL (Market Data Definition Language) and RIXML (Research Information eXtensible Markup Language), paving the way for a unified approach for managing three cornerstone information types using XML.

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