Retail and e-commerce models

Geonation retail and e-commerce models

XBRL (eXtensible Business Reporting Language) is a freely available and global framework for exchanging business information. XBRL allows the expression of semantic meaning commonly required in business reporting. The language is XML-based and uses the XML syntax and related XML technologies such as XML SchemaXLinkXPath, and Namespaces. One use of XBRL is to define and exchange financial information, such as a financial statement. The XBRL Specification is developed and published by XBRL International, Inc. (XII).

XBRL is a standards-based way to communicate and exchange business information between business systems. These communications are defined by metadata set out in taxonomies, which capture the definition of individual reporting concepts as well as the relationships between concepts and other semantic meaning. Information being communicated or exchanged is provided within an XBRL instance.


The Financial Information eXchange (FIX) protocol is an electronic communications protocol initiated in 1992 for international real-time exchange of information related to securities transactions and markets. With trillions of dollars traded annually on the NASDAQ alone, financial service entities are employing direct market access (DMA) to increase their speed to financial markets. Managing the delivery of trading applications and keeping latency low increasingly requires an understanding of the FIX protocol.


FpML (Financial products Markup Language) is a business information exchange standard based on Extensible Markup Language (XML) that enables business-to-business over-the-counter (OTC) financial derivative transactions online by following W3C standards.

The standard is managed by International Swaps and Derivatives Association (ISDA) on behalf of a community of investment banks that make up the OTC derivatives industry.[2][3] All categories of privately negotiated derivatives will eventually be included within the standard.

FpML is distinct from similar financial standards such as SWIFT and FIX in scope because it provides no network or specification of a transport mechanism.


The IFX standard is a content-rich, well-designed Business Message Specification (BMS), built by financial industry and technology leaders with decades of combined experience. These experts have painstakingly defined, modeled and incorporated real-life use cases to produce relevant and useful business data objects. The result is a consistent framework incorporating best-of-breed design principles and a common object model with carefully defined data definitions.


MDDL was developed by FISD (Financial Information Services Division) of SIIA (Software & Information Industry Association). The initiative for the use of XML in market data exchange was started in 2000 and has been gaining industry-wide acceptance.

Open Financial Exchange (OFX) is a data-stream format for exchanging financial information that evolved from Microsoft's Open Financial Connectivity (OFC) and Intuit's Open Exchange file formats.

ofx is a consortium of buy-side financial services firms, sell-side financial services firms, and technology vendors who provide products and services for creating and distributing investment research and/or capturing interactions between research providers and research consumers. The goals of are to define an open protocol that will improve the process of categorizing, aggregating, comparing, sorting, searching, and distributing global financial research, and to define an open protocol that allows service providers, consumers, and interaction report aggregators to comply with the EU’s MiFID II reporting requirements.

SWIFT message types are the format or schema used to send messages to financial institutions on the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network. The original message types were developed by SWIFT and a subset was retrospectively made into an ISO standardISO 15022. In many instances, SWIFT message types between custodians follow the ISO standard. This was later supplemented by a XML based version under ISO 20022.

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