You are looking at the HTML representation of the XML format.
HTML is good for debugging, but is unsuitable for application use.
Specify the format parameter to change the output format.
To see the non HTML representation of the XML format, set format=xml.
See the complete documentation, or API help for more information. 
<?xml version="1.0"?>
<api>
  <query>
    <recentchanges>
      <rc type="new" ns="0" title="INDEX:Financial Services Group of Livery Companies" rcid="4131" pageid="230" revid="3252" old_revid="0" timestamp="2014-03-13T12:07:38Z" />
      <rc type="edit" ns="0" title="Z/Yen Wiki HOME" rcid="4130" pageid="1" revid="3251" old_revid="3210" timestamp="2014-03-13T12:07:00Z" />
      <rc type="log" ns="2" title="User:Leander Bindewald" rcid="4129" pageid="0" revid="0" old_revid="0" timestamp="2013-08-02T07:55:13Z" />
      <rc type="log" ns="2" title="User:Chiara Von Gunten" rcid="4128" pageid="0" revid="0" old_revid="0" timestamp="2013-07-31T13:36:50Z" />
      <rc type="edit" ns="0" title="Standards Markets approach to regulation" rcid="4127" pageid="229" revid="3250" old_revid="3249" timestamp="2013-06-08T17:44:16Z" />
      <rc type="new" ns="0" title="Standards Markets approach to regulation" rcid="4126" pageid="229" revid="3249" old_revid="0" timestamp="2013-06-08T17:43:00Z" />
      <rc type="log" ns="3" title="User talk:YettaKmw" rcid="4125" pageid="0" revid="0" old_revid="0" timestamp="2013-04-22T08:55:46Z" />
      <rc type="log" ns="3" title="User talk:IANEY" rcid="4124" pageid="0" revid="0" old_revid="0" timestamp="2013-04-22T08:55:40Z" />
      <rc type="log" ns="2" title="User:YettaKmw" rcid="4123" pageid="0" revid="0" old_revid="0" timestamp="2013-04-22T08:51:23Z" />
      <rc type="log" ns="2" title="User:Qiuyi1116" rcid="4122" pageid="0" revid="0" old_revid="0" timestamp="2013-04-22T08:51:04Z" />
    </recentchanges>
  </query>
  <query-continue>
    <recentchanges rcstart="2013-04-22T08:50:42Z" />
  </query-continue>
</api>