Summary

From the project's website:

GLML is an easy to use, open specification mark-up language that has been designed by lawyers for lawyers and is owned, maintained and supported by the market through the not-for-profit GLML Foundation. Documentation can be marked up in GLML by non-technical professionals such as lawyers, making the documentation machine readable and executable.

Through it's participants, the GLML Foundation will curate the GLML Taxonomy of data points in capital markets, the GLML MS Word Plugin to allow easy markup of legal documentation and the GLML User Guide. It is the Foundation's goal to reduce fragmentation in capital markets data standards by ensuring that the free and easy to use GLML is leveraged for data structuring in legal documentation and that data needs are met for downstream participants and systems.

The group behind the project, the GLML Foundation, has released its taxonomy, comprising over 300 distinct data fields, via a GitHub rep. According to the foundation, "the GLML Taxonomy is a database of data points that have been created and defined by key capital markets law firms, banks and financial market infrastructure. The first version of the taxonomy includes commonly used data points in debt capital markets MTN, CP and CD transactions."

The project has seen some recent press coverage, and it claims a number of big-name backers, including Skadden, Thomson Reuters, London Stock Exchange Group, and Slaughter and May, among others