XML (Extensible Markup Language) messages in crypto systems are structured data formats used for standardized inter-system communication, particularly prevalent in institutional settings for transmitting trade instructions, market data, and administrative information. They provide a robust, human-readable format for data exchange between disparate platforms.
Mechanism
These messages function by encoding data within a hierarchical tag structure, allowing for complex data representation and strict validation against predefined schemas (XSDs). They are typically transmitted over secure communication protocols, such as HTTPS or FIX, ensuring data integrity, confidentiality, and reliable delivery between integrated systems.
Methodology
The methodology for employing XML messages prioritizes data interoperability, precise semantic definition, and robust error checking within financial messaging infrastructures. The strategic use of XML facilitates seamless integration with legacy institutional systems and supports stringent compliance requirements by providing a standardized, auditable record of information exchange across various crypto trading and custody operations.
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