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Gemini%20Systems,%20Inc.%2061%20Broadway%20New%20York%20NY%2010006%20Tel:%20212.480.3960%20Fax::%20212.480.3963%20http://www.gemini-systems.com

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2002 Gemini Systems, Inc. Confidential. Current Reporting Process ... 2002 Gemini Systems, Inc. Confidential. VRXML Objectives. Keep things as simple as possible ... – PowerPoint PPT presentation

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Title: Gemini%20Systems,%20Inc.%2061%20Broadway%20New%20York%20NY%2010006%20Tel:%20212.480.3960%20Fax::%20212.480.3963%20http://www.gemini-systems.com


1
An Introduction to VRXML December, 2002
Bryan Palmer
Gemini Systems, Inc. 61 Broadway New York NY
10006 Tel 212.480.3960 Fax 212.480.3963
http//www.gemini-systems.com
2
Presentation Contents
  • Current Reporting Process
  • VRXML Objectives
  • NYSEs Strategy
  • VRXML Timeline
  • VRXML Features
  • VRXML Uncovered
  • VRXML The Business Case
  • Questions

3
Current Reporting Process
  • Major disconnect between billing and reporting
  • Terminology/Vocabulary issues
  • Customer service issues
  • Tri-Party reconciliation
  • Inaccurate reporting based on time differences
  • Intensive reconciliation problems

Vendor
Exchange
Subscriber
4
Current Reporting Process (cont)
Indirect Bill Exchanges
1. Data Feed
Vendors
3a. Report
3b.1. Report for Multiple Exchanges
3b.2a. Report
Report Administrators
3a. Report
2. Device or other Data Product
1. Data Feed
3b.2b. Report
Direct Bill Exchanges
Subscribers
5
Reporting Formats
  • Why create yet another Reporting Format?
  • VRXML has the potential to turn gt 100 different
    reporting formats into 1 standard format.
  • Extensibility The ability to add additional
    functionality or modify existing functionality
    without impacting the existing system
    functionality.
  • Other Reporting Formats
  • VARS effective but lacks extensibility and can
    lead to inconsistent data
  • Excel

6
VRXML Objectives
  • Keep things as simple as possible
  • Additional features to cover a wider spectrum of
    reporting possibilities
  • Hardened but extensible
  • A what is it that you would like to do
    interface

7
NYSEs Strategy
  • From Transaction to Inventory Reporting
  • Every product for each location is reported, not
    just changes
  • Less errors, more concise
  • In essence, becomes monthly reconciliation
  • Extensible technology
  • Full support for VARS
  • Poised to become an industry standard

8
VRXML Timeline
  • February 2002 - Vision established
  • May 2002 - NYSE and GSI designs initial draft
  • June 2002 - NYSE through the FISD publishes V0.6
  • September 2002 Pilot Vendor reports
  • October 2002
  • NYSE through the FISD publishes V1.0 pre-release
  • Deutsche Boerse verbally commits to support
  • Several vendors commit to migrate
  • November 2002
  • FISD, NYSE, and GSI finalize version 1.0
  • FISD continues to gain industry acceptance
  • December 2002 Pilot Vendor(s) report
  • 2003 On going transition for Vendors,
    Exchanges, and Users with support from GSI and
    FISD

9
Efficient Communication Mechanism
  • Explicit Reporting Actions
  • New Subscribers
  • New Locations
  • New Products
  • Address Changes
  • Billing Changes
  • Company Name Changes
  • Contact Changes
  • Customer Service Options
  • Vendor Name Change Requests
  • Deactivating reportable products
  • Upfront validation of files eliminates
    bottlenecks in the overall process

10
Conceptual Model Meta Data Elements
11
Conceptual Model 1st Level Elements
12
Conceptual Model 2nd Level Elements
13
Conceptual Model Core Data Elements
14
VRXML Uncovered
  • ltvrxmlvrxml
  • xmlnsvrxml"http//mds.nysedata.com/vrxml/2002/1
    .0"
  • xmlnsxsi"http//www.w3.org/2001/XMLSchema-insta
    nce"
  • xsischemaLocation"http//mds.nysedata.cm/vrxml/
    2002/1.0 http//mds.nysedata.com/vrxml/2002/1.0/V
    RXML.xsd"gt
  • ltvrxmlfileDescriptor vrxmlvendorIdXYZ"gtlt/
    vrxmlfileDescriptorgt
  • ltvrxmlinventoryEntry vrxmlVAN"0000I"gt
  • ltvrxmlproduct vrxmlactionCodeUPD"gt
  • ltvrxmlproductCode
    vrxmlcodeOwner"VEN" vrxmlcode"NYSEPRO" /gt
  • ltvrxmlinventorygt
  • ltvrxmleffectiveDategt2002-12-0
    1lt/vrxmleffectiveDategt
  • ltvrxmlquantitygt13lt/vrxmlquan
    titygt
  • ltvrxmlcomments /gt
  • lt/vrxmlinventorygt
  • lt/vrxmlproductgt
  • lt/vrxmlinventoryEntrygt
  • ltvrxmlvrxmlgt

15
VRXML Uncovered (cont.)
  • ltvrxmlinventoryEntry vrxmlVAN"0000I"gt
  • ltvrxmlproduct vrxmlactionCodeUPD"gt
  • ltvrxmlproductCode
    vrxmlcodeOwner"VEN" vrxmlcode"NYSEPRO" /gt
  • ltvrxmlinventorygt
  • ltvrxmleffectiveDategt2002-12-0
    1lt/vrxmleffectiveDategt
  • ltvrxmlquantitygt13lt/vrxmlquan
    titygt
  • ltvrxmlcomments /gt
  • lt/vrxmlinventorygt
  • ltvrxmlinventorygt
  • ltvrxmleffectiveDategt2002-11-0
    1lt/vrxmleffectiveDategt
  • ltvrxmlquantitygt15lt/vrxmlquan
    titygt
  • ltvrxmlcomments /gt
  • lt/vrxmlinventorygt
  • lt/vrxmlproductgt
  • lt/vrxmlinventoryEntrygt

16
Obstacles
  • Vendor / Exchange interpretation of VRXML
  • Each Exchange may have their own Business Rules
  • Each Vendor may have their own Business Rules
  • Possible learning curve / Technical resource
    availability

17
What will it take to implement VRXML?
  • Inception - Acceptance and Knowledge
  • Elaboration
  • Analysis of current reporting mechanism
  • Identification of requirements (where the data
    comes from, data model modifications,
    architectural considerations)
  • Construction - From a prototype to an engine
  • Transition - Validation and Deployment
  • Maintenance - Take advantage of new features as
    VRXML matures
  • GSIs VRXML FastTrack Program

18
Conclusion
  • VRXML is absolutely appropriate
  • Significant cost savings (ROI)
  • Modest upfront effort
  • Reduction or elimination of data reconciliations
  • Streamlined services, less time spent utilizing
    CSRs
  • Ability to quickly take advantage of new features
    that also have the potential to save time and
    money

19
Next Steps
  • NYSE is accepting VRXML
  • FISD and GSI are prepared to help all parties
    with the migration process
  • Pilot Vendors report

20
Questions
21
An Introduction To VRXML December, 2002
Bryan Palmer
Gemini Systems, Inc. 61 Broadway New York NY
10006 Tel 212.480.3960 Fax 212.480.3963
http//www.gemini-systems.com
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