Within the library world, there is a growing interest in the use of XML in journals, not least because of its implications for e‐journal archiving. But what is actually happening in the commercial journals market? How far have XML and its related standards permeated the production of real commercial journals and how do publishers and other providers of journals see this area developing? This paper looks at the activities and future plans of a selection of publishers and aggregators in the STM journals market, although many of the comments relate to the entire journals arena.