General-purpose Legal Markup Language (GLML)

The future of legal documentation - a low code solution for making documentation human readable yet machine executable.

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GLML

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.

GLML Taxonomy

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.

This taxonomy has been made freely available and will continue to be updated and built out by the market through the GLML Foundation. The goal is to build this taxonomy out to include data points needed for a variety of capital markets uses. The taxonomy can then be used to markup legal documentation to make them machine readable and executable.

The GLML Taxonomy can also be mapped to other data standards and requirements downstream, which helps to reduce fragmentation in data standards in capital markets and focuses on the agreement of the underlying data points. Through the GLML MS Word Plugin, GLML can be easily inserted into documentation by non-technical professionals such as lawyers.

GLML Syntax and Taxonomy

Testimonials

“We have worked on a number of different capital markets automation projects that utilise GLML and we recognise its potential importance and impact on the capital markets. As founding members of the GLML Consortium and early adopters of the technology, we believe that having a common language for automated securities will benefit the capital markets as a whole.”

“In everything we do for clients we strive to improve efficiency and quality. By applying our expertise, embracing innovation and investing in smart technology, we are setting new standards in the value and outcomes achieved for our clients. That makes our delivery more effective, every time.”

“At Linklaters we currently deploy a range of efficiency tools on debt capital markets transactions and we are very excited about the additional opportunities that GLML offers our clients to modernise the DCM execution process. We are delighted to be a founding member of the GLML Consortium.”

Theo Trayhurn

Partner at Allen & Overy

Kate Vyvyan

Partner at Clifford Chance

Richard Levy

Partner at Linklaters