Bank of England Says Common Standards In XML Are Key

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LONDON--The next generation of internet computer language, Extensible Markup Language (XML), will cut the cost of foreign exchange transactions by making it easier for market participants to adopt common standards, according to a report in the Bank of England’s Quarterly Bulletin.

XML has potentially profound implications for the standardisation of electronic messages, says the report, written by Bob Hills of the Bank of England’s Infrastructure Division. Straight-through processing can only