Issuer
RIXML 2.5 Element
Associates research product with specific issuing entity, requiring issuerType from IssuerTypeEnum and primaryIndicator attributes. Level One excludes Rating, FinancialDates, SectorIndustry, Weighting, and ResourceLink children.
Usage
Required when IssuerDetails is present, can appear multiple times. Must have issuerType and primaryIndicator attributes. Contains IssuerID, IssuerName, and optional SecurityDetails.
Business Context
Fundamental for company-focused research identification and organization, enabling investment professionals to locate research by specific corporate entities or issuers.
Where It Fits
Definition
| Type | |
| Namespace | http://www.rixml.org/2017/9/RIXML |
| Min Occurs | 1 |
| Max Occurs | 1 |
Attributes
issuerTypeIssuerTypeEnum |
Indicates the type of Issuer. For example, can be agency, government or corporate. requiredSince 2.1 |
Indicates the country where the Issuer is domiciled, represented by the ISO 3166-1 country code. optionalSince 2.1 |
fiscalYearEndgMonthDay |
Combination of Day and Month that indicates the fiscal year end of the Issuer. optionalSince 2.1 |
sequenceinteger |
Used to indicate any meaningful ordering of the Products contained in this Research item. Particularly useful in publishing compendium products made up of multiple sub-products. Ordering is ascending. optionalSince 2.1 |
primaryIndicatorYesNoEnum |
Indicates the primary Issuer(s) discussed in the research product. If the product is focused at the Issuer level (i.e. the ProductFocus tag is set to Issuer), then at least one Issuer must be marked as primary. required |
coverageActionCoverageActionEnum |
Highlights an action taken by the publisher. Indicates that the publisher is changing the coverage status of a Security. Example: a publisher initiates coverage of Security ABC. optionalSince 2.1 |
ratingActionRatingActionEnum |
Highlights an action taken by the publisher. Indicates that the publisher is changing their rating on a Security. Example: a publisher downgrades Security ABC. optionalSince 2.1 |
weightingActionWeightingActionEnum |
Highlights an action taken by the publisher. Indicates that the publisher is changing the weighting of the security type. optionalSince 2.1 |
Children
LogoURLanyURI0..1 |
Indicates the URL where the Issuer's logo may be found. optionalSince 2.1 |
FinancialDatesstring0..1 |
optionalSince 2.1 |
IssuerFinancials(complex)0..unbounded |
optionalSince 2.1 |
SectorIndustrySectorIndustryType0..unbounded |
optionalSince 2.1 |
SecurityDetailsSecurityDetailsType0..1 |
optionalSince 2.1 |
Weighting(complex)0..unbounded |
optionalSince 2.1 |
IssuerIDstring0..unbounded |
optionalSince 2.1 |
IssuerName(complex)1..unbounded |
requiredSince 2.1 |
Descriptionstring0..1 |
A text description (name) of the Issuer. Strongly Recommended element. optionalSince 2.1 |
Rating(complex)0..unbounded |
optionalSince 2.1 |
ResourceLink(complex)0..unbounded |
optionalSince 2.2 |
Example
<Issuer issuerType="Yes"
primaryIndicator="Yes">
<IssuerName> ... </IssuerName>
</Issuer>Version History
ResourceLinkBusiness Rules
When the ProductFocus focus attribute is set to Issuer, at least one Issuer must have primaryIndicator set to Yes
A security is always issued by an issuer, therefore if a security is being mentioned, it must be attached to an Issuer element
Level One compliance excludes Rating, FinancialDates, SectorIndustry, Weighting, and ResourceLink elements as children of Issuer
When creating company reports, only one issuer or security should be marked as primary, except in rare cases such as merger reports discussing two companies equally
Company reports should not include identifiers for companies that are only mentioned briefly, such as those appearing only in tables
In Sector/Industry reports, all issuer and security identifiers must have their primaryIndicator set to No
Compilation reports should not include a focus element and must set all primaryIndicator attributes to No
An industry overview report should have ProductFocus set to SectorIndustry with no company identifiers
Reports providing updates on multiple companies within an industry should have ProductFocus set to Issuer with all company primaryIndicators set to No
Company reports primarily about one issuer should tag the primary company with primaryIndicator set to Yes and any mentioned competitors with primaryIndicator set to No
Reports covering mergers should use the Subject tag MergerAcquisitionDivestiture and may have multiple companies tagged with primaryIndicator set to Yes
Design Decisions
The primaryIndicator attribute should be set to Yes for all elements related to the element identified as the primary entity that a report discusses
This approach allows the Focus tag to identify what type of entity the report is primarily about, while the primaryIndicator clarifies which specific tagging refers to the primary entity versus non-primary entities mentioned in the report
RIXML Research Data Dictionary v2.5.1, p.17
In compilation reports, companies should not have primaryIndicator set to Yes unless there is substantial unique information that would not appear in a separate focused report
This prevents compilation reports from cluttering search results for users looking for primary coverage of specific companies, while allowing for rare cases of unique substantial content
RIXML Research Data Dictionary v2.5.1, p.20
Semantic Relationships
Qualifies2 relationships
The primary indicator setting determines which entities are tagged as primary based on the product focus, enabling distinction between primary discussion topics and entities that are merely mentioned
RIXML Research Data Dictionary v2.5.1, p.17— When to set primaryIndicator to "Yes" and when to set it to "No"
GAAPLocal applies accounting principles specific to the home country of the issuer organization
RIXML Research Data Dictionary v2.5.1, p.83— GAAPLocal
Requires5 relationships
When focus is set to Issuer, exactly one issuer must be marked with primaryIndicator as Yes, except in rare cases like merger discussions involving two companies
RIXML Research Data Dictionary v2.5.1, p.17— When to set primaryIndicator to "Yes" and when to set it to "No"
If ProductFocus is set to Issuer level, then at least one Issuer must be marked as primary with primaryIndicator
RIXML Research Data Dictionary v2.5.1, p.49— primaryIndicator (Required, YesNoEnum)
ProductFocus is used in conjunction with primaryIndicator fields in various elements like Issuer to indicate the primary topic of the product
RIXML Research Data Dictionary v2.5.1, p.50— ProductFocus
Every security must be associated with an issuer element since securities are always issued by an issuer
RIXML Research Data Dictionary v2.5.1, p.55— Security
When ProductFocus is set to Issuer, at least one Issuer element must have its primaryIndicator attribute set to Yes to identify the main subject of the report
RIXML Implementation Guide v2.5.1, p.23— EXAMPLE 1:
Implies2 relationships
When an issuer is marked as primary, all related elements describing that issuer such as sector/industry, region, and country should also have their primaryIndicator set to Yes
RIXML Research Data Dictionary v2.5.1, p.17— When to set primaryIndicator to "Yes" and when to set it to "No"
When an issuer is classified as sovereign, it indicates that the debt obligations are secured by the government's taxing power in addition to full faith and credit
RIXML Research Data Dictionary v2.5.1, p.91— Sovereign
Constrains6 relationships
For sector/industry reports, all issuer identifiers should have primaryIndicator set to No while the relevant sector or industry should have primaryIndicator set to Yes
RIXML Research Data Dictionary v2.5.1, p.17— Sector/Industry reports
In compilation reports, primary indicator should rarely be set to Yes for any company unless the report contains critical information about that company not available in separate focused reports
RIXML Research Data Dictionary v2.5.1, p.20— Compilation Reports
CUSIP identifier is limited to U.S. and Canadian securities and should not be considered a universal identifier
RIXML Research Data Dictionary v2.5.1, p.90— CUSIP
The focus of the report determines whether certain tags are required, highly recommended, or optional based on the primary subject matter
RIXML Implementation Guide v2.5.1, p.22— Identifying report focus is critical
If IssuerDetails element is present, this element must contain at least one Issuer element
RIXML Level One Addendum v2.5, p.12— Research.Product.Context.IssuerDetails
The Issuer element must contain at least one IssuerName element
RIXML Level One Addendum v2.5, p.13— Research.Product.Context.IssuerDetails.Issuer.IssuerName
Constrained By1 relationship
Quarter designations are defined relative to the company's fiscal year rather than calendar year
RIXML Research Data Dictionary v2.5.1, p.93— Q1
Triggers Action1 relationship
Stub period indicates a partial year that occurs when a company changes its fiscal year end date
RIXML Research Data Dictionary v2.5.1, p.94— Stub
Mutually Exclusive With1 relationship
When ProductFocus is set to SectorIndustry for industry overviews, company identifiers should not be included as the focus is on the sector rather than individual companies
RIXML Implementation Guide v2.5.1, p.23— EXAMPLE 1: