It also allows vendors to offer information, goods and services in a format retrievable with e-speak.

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Making sure health information that is stored in one IT system can be retrievable by others.

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David Eich, founder of Armen Computing, which offers a software solution for active traders to track basis called Tradelog, says it would be "a nightmare" if brokers were required to report old basis information, which they may not have in any form, let alone an easily retrievable or accurate one.

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