(PRWEB) August 15, 2002
In a move that will help the firm accelerate its marketing of RIXML (Research Information Exchange Mark-up Language) based investment research, Bear Stearns & Co. Inc. announced today that it had entered into an arrangement with researchsummary.com Limited to promote the adoption of RIXML version 2.0.
RIXML is an XML-based (eXtensible Mark-up Language) open standard to improve the process of categorizing, aggregating, comparing, sorting and distributing global financial and investment research. Version 2.0 has just been published and expands its original equity research focus to include corporate fixed-income research and adds an events group and calendar.
The deal will see Bear Stearns employing researchsummaryÂs proprietary RIXML-based NavigateDepth software to tag its entire research production flow, without the need to change its research creation systems. Bear Stearns will also contribute its PDF and RIXML-enabled research to the researchsummary.com portal, joining other existing investment banks already contributing. The growing list of international investment banks, whose research is provided on the researchsummary portal, now includes Bear Stearns, ABN Amro, ING Financial Markets, HSBC, Credit Lyonnais, WestLB Panmure and MTS Research.
"Web based investment research delivery has for too long been dependent on read-only formats,Â says Janet Li, managing director, equity research, Bear Stearns. ÂThe inherent limitation of read-only design makes comparative research a laborious process, which has increasingly hindered our clientsÂ ability to effectively interrogate multiple research documents to glean required information.
ÂThe RIXML tagging standard built into researchsummary's NavigateDepth makes it easier for our clients to specify what kind of research they receive and filter this research by imposing their own investment criteria. At the same time, NavigateDepth enables us to formulate and immediately deliver the requested research results in a consistent and valid manner,Â Ms. Li concluded.
ÂThis announcement is highly significant as it is the first deal that puts the RIXML standard centre-stage,Â says John Thorne, chief executive officer, researchsummary. ÂSince its initial launch early in 2001 RIXML has been, to some extent, a standard without a cause. The recent expansion with version 2 encompassing fixed income products and now the announcement that we are contracted to Bear Stearns will help solidify the wide acceptance of RIXML as the investment research publishing standard of the future.Â
RIXML uses XML to tag any piece of research content, in any form or media, with enough meta-data information for the consumer to search, sort and filter through publisher research and quickly provide highly relevant information to their decision makers. The creation of RIXML as a common language provides a low-cost way to vastly improve the value of broker investment research.
About Bear Stearns
Founded in 1923, Bear, Stearns & Co. Inc. is a leading worldwide investment banking and securities trading and brokerage firm, and the major subsidiary of The Bear Stearns Companies Inc. (NYSE:BSC). With approximately $31.0 billion in total capital, Bear Stearns serves governments, corporations, institutions and individuals worldwide. The company's business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales, trading and research, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers prime broker and broker dealer services, including securities lending. Headquartered in New York City, the company has approximately 10,500 employees worldwide. For additional information about Bear Stearns, please visit the firmÂs web site at http://www.bearstearns.com.
Researchsummary.com, founded in 1999, operates at the cutting-edge of the financial technology sector, developing innovative web-based research and deep-search XML technologies for the investment research market.
The companyÂs suite of products empowers industry professionals to manage the vast amounts of investment information available on the web, utilising research and deep-search technologies to tailor information retrieval to individual requirements. For additional information about researchsummary.com, please visit the firmÂs web site at http://www.researchsummary.com.
About RIXML.org and RIXML
Developed by the buy- and sell-side global market leaders that make up RIXML.org, RIXML (Research Information eXchange Markup Language) is an open standard for the electronic exchange of investment research. The RIXML standard will provide a structure for classifying research in a way that will enable consumers of research to define specific sorting, filtering, and personalization criteria across all research publishers.