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XML format for Market Data

Hi,
We are in process of centralizing our Market Data information management by hosting it on cloud. Client applications will connect and download signed data which will update their applications. In choosing to be guided by a market standard, this project we originally had identified Market Data Definition Language as the protocol of choice. Have any better alternatives emerged, progress in that project seems to be a little stagnant, to say the least. Does it have a particular spec that superseded / succeeded it? At the same time, FpML seems a bit complex and verbose for what we want to do which involves securities features creation and updates primarily

Regards,
Rhoss
 
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