I don't really see that as a problem, that's how all popular protocols evolve.
If all exchanges have invented a liquidity-field, then there's
a good chance the next version of FIX will standardize it, no?
Imho the legal system is very much ripe for digitalization. Both on the low-end (where it pretty much consists of overhead), and even more so on the high-end, where the complexity of legal contracts between companies or states has long exceeded what any team of lawyers (much less a mere mortal) can comprehend.
The next version of FIX can try, but everyone stopped upgrading FIX versions years ago. Also, once you standardize the liquidity field, you need to think about its values. These expand continuously...it used to be two or three values, now some systems use a dozen or more.
Basically, if you want a protocol for legal documents, you may as well use an existing one, such as PDF, XLS, TeX, etc. Trying to embed more domain knowledge in the protocol will never work at a highly generalized level. It would be like asking HTTP to standardize e-commerce.
Well, the body of this case law (and all other laws)
is what I refer to as "single source of truth".
Yes, "single source" is very much an euphemism.
In practice it's far from a single source, but rather
a poorly synchronized mess. Which is exactly
what I'm proposing to fix.
If we were to wrap it into a github-style model then cases
could be represented as branches. Case-law would evolve
in the form of patches and pull-requests.
FIX often standardize everyone's favorite custom fields after few years. The problem is that nobody is upgrading yet keep adding custom fields to their implementation, even worse sometimes back-porting tags from newer version but in incompatible ways (5.0 SP2 was released on 2011, but I've never worked with anything above 4.2 that was released 15 years ago.)
If all exchanges have invented a liquidity-field, then there's a good chance the next version of FIX will standardize it, no?
Imho the legal system is very much ripe for digitalization. Both on the low-end (where it pretty much consists of overhead), and even more so on the high-end, where the complexity of legal contracts between companies or states has long exceeded what any team of lawyers (much less a mere mortal) can comprehend.