Daffodil Promoted To Being An Apache Top-Level Project

[coder]

An additional note concerning Daffodil and ISO 20022 and their usage of XML. Seeing as how XML is now and becoming even more so the "Lingua Franca" of data there is a wonderful FOSS tool out there called BaseX.

Thanks for the recommendation & all the info!

[Jumbotron]

An additional note concerning Daffodil and ISO 20022 and their usage of XML. Seeing as how XML is now and becoming even more so the "Lingua Franca" of data there is a wonderful FOSS tool out there called BaseX. It is probably the best free and open sourced XML editor and XML database manager and visualizer out there. There are a handful of paid ones, some with VERY high price tags, but none are as good AND free as BaseX. It also handles HTML, JSON, CSV and TXT as well.

https://basex.org/

https://en.m.wikipedia.org/wiki/BaseX

As much as everyone is usually familiar with Apache, I feel their projects don't get as much love as they deserve

Apache Commons Java libraries are great. Very useful, even in Android apps.

[Jumbotron]

Does ISO 20022 define, or at least provide a way of mapping, securities symbology? Because in my experience that's a major problem in securities - each bank, exchange, data service (bloomberg, reuters, etc), has different names for the same security.

Excellent question for which I don't quite know. But from what I've read so far and can grok in my primitive way ISO 20022 is a way of developing, what could be roughly analogous in the world of Fantasy Fiction, a "Common Tongue". You can still speak and write Elvish or Orc but when conducting important business you use "Common Tongue". According to this page on SWIFT's website (SWIFT being the global financial clearing house) ISO 20022 is more or less a common financial dictionary through which your particular data schema gets parsed through ISO 20022' s "dictionary and out comes a universal XML formatted schema that can be used and read by any other financial and business entity on the planet. Here's a clip....


How will ISO 20022 formats simplify messaging between parties?

ISO 20022 will simplify messaging between parties thanks to the implementation of the ISO 20022 Data Dictionary, regardless of the syntax/format the messages would be represented in, enabling interoperability.
Indeed, the development of the ISO 20022 standard is based on the articulation of three layers:

• The business layer that defines the business meaning of a business concept;
• The logical layer that defines the logical messages to perform a specific business activity;
• The physical layer that is the syntax used to represent the logical message. This syntax independent standard enables the selection of the appropriate syntax for each context and reduces ambiguity when information is transferred from one context to another. For example, XML is most commonly used in the context of Payments Clearing and Settlement, while ASN.1 is used for Card Payments, and JSON for APIs.

Due to its formal, machine-processable language enabling users to store, share and transport structured information independent of specific hardware or software requirements, XML (eXtensible Markup Language) is the most used syntax to represent ISO 20022 messages.





What has been standardised when it comes to ISO 20022 messages?

ISO 20022 aims to overcome the barriers linked to the use of different syntaxes and semantics when exchanging financial information. Specialists in different domains or countries have developed their own jargon and can use different words to refer to the same concept. The ISO 20022 standard describes the agreement on what information is expressed and does away with differing interpretation of terms.
The ISO 20022 methodology starts with the creation of the business model. This is the definition of the activity or business process, the business roles and actors involved in that activity and the business information needed in order for the activity to take place. The second step builds upon the first by defining logical messages using the previously defined business concepts, and describing all the information that is needed to perform a specific business activity, independent of the syntax. Note that some business concepts such as 'PostalAddress' used to identify a party's or a financial institution’s address can be used whether the message is related to a credit transfer, a credit card payment, securities or a foreign exchange transaction. Individual elements such as ‘InterbankSettlementAmount’ and ‘InterbankSettlementDate’ can also be reused. Finally, the syntax (physical representation) of the logical message will be specified.








What is ISO 20022 and how will they support global business needs?

ISO 20022 is a methodology to develop common financial messaging standards, based on a business dictionary. It is an open, neutral, syntax-independent global standard, freely implementable by anyone and supported by an open governance process. ISO 20022 follows a specific registration, development and maintenance process that is governed by four main groups, composed of technical experts and senior industry experts, who together represent all sectors of the financial industry.
They ensure that ISO 20022 messages address the needs of the widest range of future users, reusing and grouping common data objects into ISO 20022 syntax-neutral, independent messages, and that these remain compliant with ISO 20022 technical specifications.





How does the ISO 20022 Data Dictionary define financial messaging?

Along with the ISO 20022 Business Process Catalogue, the ISO 20022 Data Dictionary composes the ISO 20022 Central Repository, which is key to the ISO 20022 standard and is publicly available on iso20022.org. The ISO 20022 Data Dictionary contains all items that can be re-used during the business modelling and message definition activities:

• Business concepts: items with a business meaning (business associations, business components, business elements or business roles)
• Message concepts: derived from business concepts (message components, message constraints and message elements)
• Data types: describe the various formats or code values to express data in business concepts or message concepts (amount, time, date, quantity)

What is the format pacs and where is it used?

pacs (Payments Clearing and Settlement) is a specific XML (eXtensible Markup Language) syntax used for the clearing and settlement of credit transfers between financial institutions. Over SWIFT, messages belonging to Cash Management (camt) and payments initiation (pain) are also commonly represented using the XML syntax or the JSON syntax if sent over APIs.

https://www.swift.com/standards/iso-20022/iso-20022-faqs/iso-20022-messages#how-will-iso-20022-formats-simplify-messaging-between-parties?

[vegabook]

Hmmm...after looking at the Daffodil site at Apache.org and seeing how it is a subset of XML schema, I wonder if this can be used to help banks and other financial institutions move their proprietary datasets to ISO 20022 which itself is a XML schema? For those not familiar with ISO 20022, this is the emerging data scheme that all banks and FIs will be using over this decade to have one data scheme to rule them all. This will allow things such as RTP (Real Time Payments) for all. Forget 3-5 minutes with Zelle or Venmo. Think 3-5 seconds ( or less ) for any and every transaction on Planet Earth either personal or corporate on any platform.

ISO 20022 is also designed and implemented in a way to allow it to become a blockchain in the future. In fact Ripple is right now working on that very thing for ISO 20022.

https://en.m.wikipedia.org/wiki/ISO_20022

Does ISO 20022 define, or at least provide a way of mapping, securities symbology? Because in my experience that's a major problem in securities - each bank, exchange, data service (bloomberg, reuters, etc), has different names for the same security.

[Jumbotron]

Hmmm...after looking at the Daffodil site at Apache.org and seeing how it is a subset of XML schema, I wonder if this can be used to help banks and other financial institutions move their proprietary datasets to ISO 20022 which itself is a XML schema? For those not familiar with ISO 20022, this is the emerging data scheme that all banks and FIs will be using over this decade to have one data scheme to rule them all. This will allow things such as RTP (Real Time Payments) for all. Forget 3-5 minutes with Zelle or Venmo. Think 3-5 seconds ( or less ) for any and every transaction on Planet Earth either personal or corporate on any platform.

ISO 20022 is also designed and implemented in a way to allow it to become a blockchain in the future. In fact Ripple is right now working on that very thing for ISO 20022.

https://en.m.wikipedia.org/wiki/ISO_20022

[pkunk]

As much as everyone is usually familiar with Apache, I feel their projects don't get as much love as they deserve

Depends on the project. Apache Spark for example is absolute juggernaut in its field.

[FireBurn]

As much as everyone is usually familiar with Apache, I feel their projects don't get as much love as they deserve

[phoronix]

Phoronix: Daffodil Promoted To Being An Apache Top-Level Project

Following the recent promotions of DataSketches and ECharts, the Apache Software Foundation has promoted Daffodil as their newest top-level project. Apache Daffodil is an open-source universal interchange implementation of the Data Format Description Language (DFDL)...

http://www.phoronix.com/scan.php?page=news_item&px=Apache-Daffodil-TLP