XML Messaging refers to the transmission of data structured using Extensible Markup Language (XML), a standardized text-based format for organizing information. In the context of crypto, it is often employed for institutional data exchange, reporting, and interoperability with traditional financial systems.
Mechanism
Data is organized into a hierarchical structure using custom tags, enabling both human readability and machine processing. Messages are transmitted over various communication protocols, commonly HTTP or MQ, with defined schemas ensuring validation and consistent interpretation of financial or transactional data between disparate systems.
Methodology
The strategic utility lies in facilitating robust and extensible data interchange between diverse systems and organizations, particularly in complex financial ecosystems that bridge traditional finance and crypto. XML messaging provides a standardized, self-describing format for requests for quote (RFQs), trade confirmations, and regulatory reporting, enhancing system interoperability and auditability.
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