Security
RIXML 2.5 Element
Describes specific financial instrument with required primaryIndicator and optional action attributes for coverage, target price, and estimate changes. Level One excludes FinancialDates, SecurityType, SectorIndustry, and Weighting children.
Information about a particular security that describes the type of security and how to identify it. A security is always issued by an issuer, therefore, if a security is being mentioned, it must be attached to an Issuer element.
Usage
Required when SecurityDetails present, can appear multiple times. Must have primaryIndicator attribute. Optional coverageAction, targetPriceAction, and estimateAction attributes indicate publisher changes.
Business Context
Critical for security-specific research identification and change tracking, enabling investment professionals to monitor analyst actions and recommendations on specific financial instruments.
Where It Fits
Definition
| Type | SecurityType |
| Namespace | http://www.rixml.org/2017/9/RIXML |
| Min Occurs | 1 |
| Max Occurs | 1 |
Attributes
targetPriceActionTargetPriceEnum |
Highlights an action taken by the publisher. Indicates that the publisher is changing their target price estimate for a Security. Example: a publisher increases a target price for Security ABC to $100. optionalSince 2.1 |
estimateActionEstimateEnum |
If this financial value is an estimate, the estimateAction attribute can be used to indicate an action, such as reiterate or upgrade, that applies to this estimate. Intended to provide support for the case where an author is including more than one estimate action in the same report -- for example, reiterating his current fiscal year estimate and upgrading his next fiscal year estimate. 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 Security or Securities discussed in the research product. If the product is focused at the Security level (i.e. the ProductFocus tag is set to Security), then at least one Security must be marked as primary. Otherwise primaryIndicator is optional. 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
SecurityID(complex)1..unbounded |
requiredSince 2.1 |
FinancialDatesstring0..1 |
optionalSince 2.1 |
SecurityFinancials(complex)0..unbounded |
optionalSince 2.1 |
SectorIndustrySectorIndustryType0..unbounded |
optionalSince 2.1 |
Weighting(complex)0..unbounded |
optionalSince 2.1 |
SecurityNamestring0..1 |
The name of the Security. optionalSince 2.1 |
SecurityShortNamestring0..1 |
Optional short name commonly used to identify the Security. optionalSince 2.1 |
AssetClass(complex)1..1 |
requiredSince 2.1 |
AssetType(complex)1..1 |
requiredSince 2.1 |
SecurityType(complex)0..1 |
optionalSince 2.1 |
Rating(complex)0..unbounded |
optionalSince 2.1 |
Example
<Security primaryIndicator="Yes">
<SecurityID> ... </SecurityID>
<AssetClass> ... </AssetClass>
<AssetType> ... </AssetType>
</Security>Version History
Unchanged since introduction in RIXML 2.1
Business Rules
Weighting Action must not be used for individual securities, as it is reserved for asset allocation concepts related to industries, sectors, countries, regions, or asset classes
A security is always issued by an issuer, therefore if a security is being mentioned, it must be attached to an Issuer element
If the product is focused at the Security level (ProductFocus tag is set to Security), then at least one Security must be marked as primary
Security primaryIndicator attribute must be used to mark featured securities as primary and mentioned securities as non-primary
Level One compliance excludes FinancialDates, SecurityType, SectorIndustry, and Weighting elements as children of Security
Security element must contain single AssetClass element that acts as container for the assetClass attribute
Security element must contain single AssetType element that acts as container for the assetType attribute
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
Design Decisions
Security must be attached to an Issuer element
A security is always issued by an issuer, therefore if a security is being mentioned it must be attached to an Issuer element
RIXML Research Data Dictionary v2.5.1, p.55
At least one Security must be marked as primary when the product is focused at the Security level
When ProductFocus tag is set to Security, there must be at least one primary Security to indicate the main focus of the research product
RIXML Research Data Dictionary v2.5.1, p.56
Semantic Relationships
Contrasts With2 relationships
Rating represents the author's current opinion while rating action describes changes or restatements of that opinion such as upgrades or downgrades
RIXML Research Data Dictionary v2.5.1, p.19— Rating versus Rating Action versus Weighting Action
When focus is SectorIndustry, the report emphasizes sector or industry analysis rather than individual securities mentioned
RIXML Research Data Dictionary v2.5.1, p.83— SectorIndustry
Mutually Exclusive With1 relationship
Weighting action applies to asset allocation recommendations for industries, countries, or asset classes, while rating action applies to individual securities - they serve different analytical purposes
RIXML Research Data Dictionary v2.5.1, p.19— Rating versus Rating Action versus Weighting Action
Requires1 relationship
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
Constrains5 relationships
At least one security must be marked as primary when product focus is set to Security level
RIXML Research Data Dictionary v2.5.1, p.56— Elements and Attributes
If SecurityDetails element is present, this element must contain at least one Security element
RIXML Level One Addendum v2.5, p.13— Research.Product.Context.IssuerDetails.Issuer.SecurityDetails
The Security element must contain at least one SecurityID element
RIXML Level One Addendum v2.5, p.14— Research.Product.Context.IssuerDetails.Issuer.SecurityDetails.Security.SecurityID
The Security element must contain a single AssetClass element
RIXML Level One Addendum v2.5, p.15— Research.Product.Context.IssuerDetails.Issuer.SecurityDetails.Security.AssetClass
The Security element must contain a single AssetType element
RIXML Level One Addendum v2.5, p.15— Research.Product.Context.IssuerDetails.Issuer.SecurityDetails.Security.AssetType
Replaces1 relationship
The ratingAction attribute within the Rating element is the preferred location for rating action specifiers, allowing multiple ratings to have independent actions
RIXML Research Data Dictionary v2.5.1, p.66— Elements and Attributes