Region
RIXML 2.5 Element
Defines broader geographical areas beyond individual countries for research categorization. Uses a mandatory regionType attribute from RegionTypeEnum, with publisherDefinedValue available when regionType equals PublisherDefined. The primaryIndicator attribute marks the most significant regional focus.
Usage
Add zero to multiple Region elements under ProductClassifications to indicate geographic areas covered in research. When using custom regions, set regionType to PublisherDefined and specify the region name in publisherDefinedValue. Level One excludes Rating and Weighting children.
Business Context
Facilitates regional content aggregation and distribution targeting, allowing investment firms to organize research by macro-geographic themes like emerging markets or developed economies.
Specification Guide
Overview
Region identifies a geographic region discussed in a research product, providing broader geographic categorisation than country-level tagging. It sits within ProductClassifications (and within RegionEntitlement for access-control contexts) and uses the RegionTypeEnum enumeration via its regionType attribute to express standard regional designations such as Europe, Asia, AsiaExJapan or Americas. Publishers may also express custom regions through publisherDefinedValue when regionType is set to PublisherDefined. Region supports emerging-market designation, sequence-based ordering, primary-focus marking and action tracking for coverage, rating and weighting changes (sources: data-dictionary-2.4 p.59, data-dictionary-2.5.1 p.62, level-one-2.5 p.20).
Usage
Region is optional within ProductClassifications and may appear zero or more times, allowing multi-regional classification of a single product (sources: level-one-2.2 p.25, level-one-2.5 p.20). It also appears inside RegionEntitlement to restrict distribution to specific geographic audiences (sources: level-one-2.3 p.22, data-dictionary-2.4 p.59).
Typical attribute usage:
- regionType — required, selected from RegionTypeEnum.
- primaryIndicator — marks the principal region; required to be Yes for at least one Region when ProductFocus is set to Region [user-guide-2.3 p.43].
- publisherDefinedValue — supplies a custom label when regionType is PublisherDefined.
- emergingIndicator — flags the region as an emerging market.
- sequence — orders multiple Region entries for display.
- coverageAction, ratingAction, weightingAction — track publisher changes to regional coverage, rating or weighting.
In the full schema, Region may carry optional Rating and Weighting children to express region-level analyst views. The Level One profile omits these children (see Rules).
Rules
- MUSTWhen ProductFocus is set to
Region, at least one Region must have primaryIndicator set toYes.[RIXML User Guide v2.3 p.43] [RIXML Research Data Dictionary v2.4 p.59] [RIXML Research Data Dictionary v2.5.1 p.62] - MUSTregionType must be supplied and drawn from RegionTypeEnum.[RIXML Research Data Dictionary v2.4 p.59] [RIXML Research Data Dictionary v2.5.1 p.62] [RIXML Level One Addendum v2.5 p.20]
- SHOULDWhen regionType is
PublisherDefined, publisherDefinedValue should be supplied to name the custom region.[RIXML Level One Addendum v2.2 p.25] [RIXML Level One Addendum v2.5 p.20] - INFORMATIVEThe Level One profile does not require Rating or Weighting children inside Region; Level One implementations typically omit them. Documents that include these children remain valid against the full schema.[RIXML Level One Addendum v2.2 p.25] [RIXML Level One Addendum v2.3.1 p.20] [RIXML Level One Addendum v2.4 p.20] [RIXML Level One Addendum v2.5 p.20]
Relationships
- child-ofProductClassifications — Region appears zero or more times as a child of ProductClassifications to classify the product by geographic region.
- child-ofRegionEntitlement — Region appears inside RegionEntitlement to identify the geographic regions used for entitlement and access-control decisions.
- containsRating — In the full schema, Region may contain Rating children expressing analyst rating at the regional level. Not required by the Level One profile.
- containsWeighting — In the full schema, Region may contain Weighting children expressing portfolio weighting recommendations at the regional level. Not required by the Level One profile.
- constrainsProductFocus — When ProductFocus is
Region, at least one Region under ProductClassifications must have primaryIndicator =Yes. - uses-enumRegionTypeEnum — regionType draws its value from the RegionTypeEnum enumeration.
- complementsCountry — Region expresses broader multi-country geography while Country expresses country-level focus; both may co-exist within ProductClassifications.
Where It Fits
Definition
| Type | |
| Namespace | http://www.rixml.org/2017/9/RIXML |
| Min Occurs | 1 |
| Max Occurs | 1 |
Attributes
emergingIndicatorYesNoEnum |
Indicates whether the publisher defines this country as an emerging market. 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 Region(s) discussed in the product. If the product is focused on the Region level (i.e. the ProductFocus tag is set to Region), then at least one Region must be marked as primary. required |
regionTypeRegionTypeEnum |
requiredSince 2.1 |
publisherDefinedValuestring |
For specifying other IM systems. optionalSince 2.1 |
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 |
Example
<Region primaryIndicator="Yes"
regionType="Value" />Version History
Unchanged since introduction in RIXML 2.1
Region has been present in ProductClassifications since at least RIXML 2.2 with its core regionType, primaryIndicator and publisherDefinedValue attributes [level-one-2.2 p.25]. Versions 2.3 through 2.5 maintained the same core structure and added/clarified action attributes — coverageAction, ratingAction and weightingAction — together with sequence and emergingIndicator for finer-grained regional analysis (sources: release-notes-2.3.1 p.2, data-dictionary-2.4 p.59, data-dictionary-2.5.1 p.62). Across these versions the Level One profile has consistently omitted Rating and Weighting children from Region (sources: level-one-2.3.1 p.20, level-one-2.4 p.20, level-one-2.5 p.20).
In the RIXML v3 draft, Region is restructured to sit inside a RegionList wrapper, with boolean attributes (isPrimary, isEmerging) replacing the Yes/No indicators and optional RatingList/WeightingList aggregations replacing inline Rating/Weighting children [data-dictionary-v3-draft p.59]. The v3 working group is also reviewing expansion of region semantics beyond purely geographic groupings to include economic and geopolitical blocks such as the European Union, Eurozone and Emerging Markets [v3-taxonomy-identifiers-summary p.5]. Discussions for v3 also include adding tagSource and tagConfidence attributes to key taxonomy tags including Region to provide transparency for automated tagging [meeting-2023-09 p.31].
Business Rules
When a product is focused on the Region level (ProductFocus tag set to Region), at least one Region must be marked as primary using the primaryIndicator attribute
Level One does not allow Region elements within ProductClassifications to contain Rating or Weighting elements
For company reports, all elements describing the primary company's characteristics (sector/industry, region, country) must have their primaryIndicator set to Yes
Design Decisions
The primaryIndicator attribute for Region was made required to ensure at least one region is marked as primary when a product has region-level focus
When research products focus on regional analysis, consumers need to identify which regions are the main subject of discussion to properly categorize and route the content
RIXML Research Data Dictionary v2.5.1, p.62
Semantic Relationships
Requires1 relationship
When the product is focused on the Region level with ProductFocus set to Region, then at least one Region must be marked as primary
RIXML Research Data Dictionary v2.5.1, p.62— primaryIndicator (Required, YesNoEnum)
Blocks Action2 relationships
Level One specification prohibits Region elements from containing Rating child elements
RIXML Level One Addendum v2.5, p.20— Research.Product.Context.ProductClassifications.Region
Level One specification prohibits Region elements from containing Weighting child elements
RIXML Level One Addendum v2.5, p.20— Research.Product.Context.ProductClassifications.Region
Constrains1 relationship
Region type attribute must take values from the RegionTypeEnum enumeration
RIXML Level One Addendum v2.5, p.20— Research.Product.Context.ProductClassifications.Region
Triggers Action1 relationship
When regionType is set to PublisherDefined, the publisherDefinedValue attribute is used to specify the custom region name
RIXML Level One Addendum v2.5, p.20— Research.Product.Context.ProductClassifications.Region