() remains an anization dedicated to the adoption and implementation of an XML-based tagging standard for research data.  Both sell-side publishers of research and institutional buy-side nsumers of research and vendor intermediary channels, which are value-added distributors of research, have a direct stake in the suessful implementation of this standard.

Why tagging and why now?  A lleague of mine in recently passed on an observation that sums up the need for standardized structure (tagging) quite well: this is a transitional time for the research business. Research packaging and distribution decisions are taking on greater urgency in two different roles:

• Business drivers — ntent that adds to the investment decision making process needs to be clearly paid for.  “Fuzzy” pricing models, on the hope of increased mmissions and order flow, are fewer and further between.  “ntent in ntext” is paramount.  Rich, deep tagging to identify such ntent will help to mitigate the opportunity sts of misplaced or irrelevant research to clients.
• Technology drivers, which speaks directly to the transitional time for the research business.  I like to use the iTunes analogy.  How many times has anyone searched for songs in iTunes when those songs’ tags are absent or misplaced?  Those songs will probably not make users’ playlists.  In the same way, research that is not tagged rrectly or not tagged at all will not make nsumers’ “playlists”.  The proliferation of PDAs, iPhones, iPads, and their apps among institutional portfolio managers and nsumers will only heighten the need to structure (tag) research in its proper ntext.  This is a very exciting time for research to ride along on this technology toolset wave.

is a Direct Association member of XBRL..  We see our relationship as highly mplementary; we face off to XBRL at the working group level.  XBRL is clearly designed to bring efficiencies to the research analyst workflow process, saving time in data gathering, rcing error rates, and embedding live extensible data filings into publisher workflow to produce more timely and effective earnings models, fundamental mpany updates, etc.

Our RIXML members see the potential benefit of XBRL.  While we are still in the early innings, early models are emerging to bring the two together in practical implementation.  We expect these practical models to seek and find their right level in our business in 2011.  The membership firms in will ntinue to benefit from greater understanding of the XBRL vendor applications that may serve as enablers for these workflow models.