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MDDL, the Market Data Definition Language, is an XML-based messaging format for exchanging information related to

  1. Financial Instruments
  2. Corporate events related to the financial instruments
  3. Market-related data

MDDL was developed by FISD (Financial Information Services Division) of SIIA (Software & Information Industry Association). The initiative for the use of XML in market data exchange was started in the year 2000 and has been gaining industry-wide acceptance.