See here for Gordon Allott of Broadpeak’s  thoughts on standardisation of data standards and the experiences of Dodd Frank. He is saying that the variety of flavours of standard in the financial industry is leading to a mess on the SDR  front. The effect of this is to make it almost impossible for the CFTC do make any sense of the data at all. And he counsels ESMA and Europe to learn a lesson from this.

In the European energy industry, we also have CpML, which is more concise and standard than FpML in many ways. Adopting CpML widely in the industry could therefore  offer many benefits.