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There are long-term financial instruments (like swaps: http://en.wikipedia.org/wiki/Swap_%28finance%29) which can extend to 30 years or more. Many institutions are encoding these using FpML (Financial Products Markup Language: http://www.fpml.org/), with their own custom extensions, and they will need to be able to access this data in 2037 or later. If XML has been surpassed in popularity by some competing technology by 2027 or 2037, I suspect that what you will find is that institutions who need it will maintain staff who know how to use and run their XML tools, just as some now have staff who keep their legacy applications running as long as it makes sense to. Those who don't have the facilities for this might choose to translate the information from XML into something else, at the cost of extensive checking and testing. However, they would need to do this in collaboration with their trading partners, so that everyone agrees that the details of the financial instruments have not been changed during the conversion process. The situation may be different for documents that aren't *live* for 20-30 years, but which have a small probability of being required in future, perhaps for legal reasons. In those cases, I expect that people would either just hand over the documents as-is to some authority, and make it their problem, or otherwise find some specialist who can help decode the documents. That said, undocumented XML formats can be untelligible even if you can parse and validate them, so it might well be that some documents cannot be correctly interpreted. Each company needs to judge for itself the risks of losing the ability to easily read some of its legacy information, versus the costs of maintaining that ability. Cheers, Tony. -- Anthony B. Coates Senior Partner Miley Watts LLP Experts In Data UK: +44 (20) 8816 7700, US: +1 (239) 344 7700 Mobile/Cell: +44 (79) 0543 9026 Data standards participant: genericode, ISO 20022 (ISO 15022 XML), UN/CEFACT, MDDL, FpML, UBL. http://www.mileywatts.com/
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