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Article #123 - A Market, Trading, Economics View

Market/Trading/Economic-Centered View of GridWise™-Related Standards Efforts [1]

A Market/Trading/Economics View

Standard(s)
Architecture/Guidance/Frameworks/Meta-views
UN/CEFACT Business Collaboration Framework (BCF) W3C--Architecture Domain: XML, Web Services, URI, DOM
Management Aspects
UN/CEFACT--Business Process Working Group: Business Process Specification Schema DISA--ASC X12F Finance Subcommittee, Energy and Utilities Task Group
Transverse Aspects (security, transactions, interoperability...)
RosettaNet--Universal Messaging Service RosettaNet--Implementation Framework Core Specifications ISO /TC 68/SC 2 - Security management and general banking operations (Framework for IT security for financial institutions, Public key infrastructure management for financial services) IETF--Application area: Internet Open Trading Protocol (trade) UN/CEFACT--International Trade and Business Process Group (TBG), UMM UN/CEFACT--Techniques and Methodologies Group (TMG) OASIS--Web Services Technical Committees
Specific Applications
Software Agents No open standards identified at this stage. Financial Trading Exchanges ISO /TC 68/SC 4 - Securities and related financial instruments (ISO 15022-- SWIFT, EDIFACT syntax, integrates XML) Auction Systems No open standards identified at this stage Business Processes RosettaNet--Partner Interface Processes (PIPs) RosettaNet--Business Dictionary (RNBD) RosettaNet--Global Company Identifier Program

[1] There are significant protocols used in the financial sector published by trade groups which were not in the scope of this study, including FIX protocol www.fixprotocol.org, and projects underway by the FSTC: Financial Services Technology Consortium (for example the UVX project).

There are also numerous implemented applications for financial exchange and auctioning, which often draw from underlying standardized technologies, but are not necessarily part of any standards process at this stage. Examples of these applications include: VerticalNet, FreeMarket, Ariba (trader and TradingDynamics), OpenSite, Moai, WellBid, AsAuction.con, AltraEnergy, Energy Window, agent-based work in academia, Global Trading Web, WebEx, CommerceOne, Primex, Silicon Summit Technology, OpenExchange On-line Bidding Software-OLB, LiveExchange (Intel), EIDX ITX, European EDIFICE Organization, Open Network for Commerce Exchange.

This area is generally market-driven rather than standards-driven, but the trend toward cross-company collaboration (XRP-extended resource planning) may drive further standardization in the future.