Verbiage for Specification Announcement

Hi everyone,

Please find below verbiage we'll use to announce the release of the first public draft of the ODRL for Market Data specification. We'll post this announcement to the LinkedIn group<https://www.linkedin.com/groups/14004678/> after the W3C publishes the public draft of the specification:

Title:  International expert group proposes model for digitised market data licences to drive efficiencies in financial markets

Sub-title:  W3C Rights Automation for Market Data Community Group invites feedback on its guidance for machine-readable market data licenses based on ODRL

A group of international experts drawn from multiple organisations across the financial services landscape is taking its first steps towards establishing a model for digitised market data licences by announcing the release of the public draft of the ODRL profile for Market Data. The release of this specification is a major step towards enabling the automation of rights-management throughout the market data supply chain.

The licences controlling market data are frequently bespoke and complex, tightly segmenting the underlying data. A standard, machine-readable way of describing market data licences can, however, provide a key element in the journey towards automating rights-management along the market data supply chain in order to drive efficiencies in financial markets.

These industry practitioners have assembled under the auspices of the World Wide Web Consortium (W3C) Rights Automation for Market Data Community Group, with an aim to develop and publish a market data profile for the machine-readable Rights Expression Language called the Open Digital Rights Language (ODRL).

The Group has begun working towards the modelling of digitised market data licences using ODRL. Capturing the rules and obligations contained in market data licences in ODRL allows for the automated checking of compliance along the data supply chain. In addition, the Group has extended the nomenclature of the ODRL to cover the language commonly used in market data licencing. These terms have been published in the Market Data Profile for ODRL based on a set of test cases. The terms provide the additional vocabulary and semantics needed to express the rights and obligations controlling the use of market data using ODRL.

The Group now invites any interested industry participants to provide comments on the Market Data Profile for ODRL, particularly with regards as to whether the nomenclature and/or test cases might be considered incomplete or can be improved upon in any way. After consultation with the industry, and once these specifications have been largely determined, the group will focus on implementation, working on building market data licences that use the specification to perform digital rights enforcement.

If you wish to make comments on the Market Data Profile for ODRL, please send them to public-md-odrl-profile@w3.org<mailto:public-md-odrl-profile@w3.org>.

Once posted, it would be great if you're able to link to the announcement from your LinkedIn profile. I'll send a follow-up email as soon as the W3C publishes the draft and we post the announcement. Let me know if you have any questions or comments, and we can discuss more on today's call.

Best,
Mark



Mark Bird | DataBP
14 Wall Street, Suite 4C
New York, NY 10005
Telephone: 917-257-5519
mark.bird@databp.com<mailto:mark.bird@databp.com>

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