ASC X9

It sounds like a dope supersonic fighter jet that you'll hear a lot more about if they ever get around to making Top Gun 2. But in reality, ASC X9 (known to most as X9) is short for Accredited Standards Committee X9 Financial Industry Standards, Inc. Like X12, it develops and promotes standards for the exchange of information. However, unlike X12, it specifically focuses on the financial services industry.

X9's mission is to develop, establish, maintain and promote standards that facilitate the delivery of financial services and products in the United States and around the world. This applies to many applications, such as PIN protection, security, and even stock and bond trading.

Both the X9 and X12 were set up by the American National Standards Institute, a non-profit group dedicated to creating standards for various industries. It's basically an organization that helps business groups self-regulate.

The X9, set up in 1974, provides guidelines to the financial services industry, with a focus on the integration of new technology. The X12 came about in 1979 and focuses on standards related to electronic data interchange, or EDI. Both committees look to keep companies on the same page as technology develops, allowing for a smoother and more efficient adoption.