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Gemini Systems, Inc. 61 Broadway New York NY Tel: Fax:: An Introduction to VRXML December, 2002 Bryan Palmer
© 2002 Gemini Systems, Inc. Confidential Presentation Contents Current Reporting Process VRXML Objectives NYSE’s Strategy VRXML Timeline VRXML Features VRXML Uncovered VRXML – The Business Case Questions
© 2002 Gemini Systems, Inc. Confidential Current Reporting Process Major disconnect between billing and reporting Terminology/Vocabulary issues Customer service issues Tri-Party reconciliation –Inaccurate reporting based on time differences –Intensive reconciliation problems Vendor Exchange Subscriber
© 2002 Gemini Systems, Inc. Confidential Current Reporting Process (cont) Indirect Bill Exchanges Subscribers Vendors Direct Bill Exchanges Report Administrators 3b.2b. Report 1. Data Feed 2. Device or other Data Product 3a. Report 1. Data Feed 3b.2a. Report 3b.1. Report for Multiple Exchanges 3a. Report
© 2002 Gemini Systems, Inc. Confidential Reporting Formats Why create yet another Reporting Format? VRXML has the potential to turn > 100 different reporting formats into 1 standard format. Extensibility – The ability to add additional functionality or modify existing functionality without impacting the existing system functionality. Other Reporting Formats VARS – effective but lacks extensibility and can lead to inconsistent data Excel
© 2002 Gemini Systems, Inc. Confidential VRXML Objectives Keep things as simple as possible Additional features to cover a wider spectrum of reporting possibilities Hardened but extensible A “what is it that you would like to do” interface
© 2002 Gemini Systems, Inc. Confidential NYSE’s Strategy From Transaction to Inventory Reporting –Every product for each location is reported, not just changes –Less errors, more concise –In essence, becomes monthly reconciliation Extensible technology Full support for VARS Poised to become an industry standard
© 2002 Gemini Systems, Inc. Confidential VRXML Timeline February Vision established May NYSE and GSI designs initial draft June NYSE through the FISD publishes V0.6 September 2002 – Pilot Vendor reports October 2002 –NYSE through the FISD publishes V1.0 pre-release –Deutsche Boerse verbally commits to support –Several vendors commit to migrate November 2002 –FISD, NYSE, and GSI finalize version 1.0 –FISD continues to gain industry acceptance December 2002 – Pilot Vendor(s) report 2003 – On going transition for Vendors, Exchanges, and Users with support from GSI and FISD
© 2002 Gemini Systems, Inc. Confidential Efficient Communication Mechanism Explicit Reporting Actions –New Subscribers –New Locations –New Products –Address Changes –Billing Changes –Company Name Changes –Contact Changes Customer Service Options –Vendor Name Change Requests –Deactivating reportable products Upfront validation of files – eliminates bottlenecks in the overall process
© 2002 Gemini Systems, Inc. Confidential Conceptual Model – Meta Data Elements
© 2002 Gemini Systems, Inc. Confidential Conceptual Model – 1 st Level Elements
© 2002 Gemini Systems, Inc. Confidential Conceptual Model – 2 nd Level Elements
© 2002 Gemini Systems, Inc. Confidential Conceptual Model – Core Data Elements
© 2002 Gemini Systems, Inc. Confidential VRXML Uncovered
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© 2002 Gemini Systems, Inc. Confidential VRXML Uncovered (cont.)
© 2002 Gemini Systems, Inc. Confidential Obstacles Vendor / Exchange interpretation of VRXML –Each Exchange may have their own Business Rules –Each Vendor may have their own Business Rules Possible learning curve / Technical resource availability
© 2002 Gemini Systems, Inc. Confidential What will it take to implement VRXML? Inception - Acceptance and Knowledge Elaboration –Analysis of current reporting mechanism –Identification of requirements (where the data comes from, data model modifications, architectural considerations) Construction - From a prototype to an engine Transition - Validation and Deployment Maintenance - Take advantage of new features as VRXML matures GSI’s VRXML FastTrack Program
© 2002 Gemini Systems, Inc. Confidential Conclusion VRXML is absolutely appropriate Significant cost savings (ROI) –Modest upfront effort –Reduction or elimination of data reconciliations –Streamlined services, less time spent utilizing CSRs –Ability to quickly take advantage of new features that also have the potential to save time and money
© 2002 Gemini Systems, Inc. Confidential Next Steps NYSE is accepting VRXML FISD and GSI are prepared to help all parties with the migration process Pilot Vendors report
© 2002 Gemini Systems, Inc. Confidential Questions
Gemini Systems, Inc. 61 Broadway New York NY Tel: Fax: An Introduction To VRXML December, 2002 Bryan Palmer
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