 |
Other Administrative
|
|
|
|
|
Delivery of Exchange Notification Documentation in English January
2000
The
following was submitted to FISD for consideration as a best practice recommendation
and adopted by the FISD Executive Committee in January 2000.
Questions and comments should be directed to
Michael Atkin.
Best
Practice Recommendation on Market Data Notification
Background
Exchanges are responsible for disseminating a considerable amount of information
to the International investment community. This information is either included
in the Exchanges’ market data feeds or disseminated in hard copy or via other
electronic means. Dissemination of
this information in an internationally recognized language is a key factor to
the successful management of real time and end-of-day market data management in
an increasingly dynamic and global industry.
Some
Exchanges have recognized the need to communicate all information in English as
well as their respective local language in an effort to secure their position
in an increasingly competitive market place, and to guarantee the highest level
of quality. However, too many Exchanges still communicate in their local language
only.
Even though global data vendors
and users have acquired the skills required to translate and disseminate Exchanges’
market data in English, the risks identified in not doing so are the misinterpretation
of notifications and the lack of timeliness leading to inaccurate Market Data.
FISD
Position
The purpose of this recommendation is to better manage information
communicated by Exchanges and ensure market data is of the highest quality and
consistent standards. Therefore, Vendors and Users within FISD recommend that
all Exchanges provide the following information in English. -
Technical documentation
and feed specifications
-
Legal
and administration notices
-
Amendment
notification covering: new listings (IPO’s, new issues, etc), changes to existing
listings, deletion of existing listings, corporate actions, dividend notices,
index adjustments and changes to constituent lists
|
|
|
