XML Format for Parent and Child Relationships

I'm working on an application that uses XML that can have unlimited parent child relationships.
This is only a small section of the data, but I wanted to know if this is the correct format or should I do it a different way?

<?xml version="1.0" standalone="yes"?>
<NewDataSet>
  <Transfer>
    <Name>Collections</Name>
    <Extension />
    <Parent />
    <Type />
  </Transfer>
  <Transfer>
    <Name>Tri</Name>
    <Extension>86328</Extension>
    <Parent>Collections</Parent>
    <Type>CT</Type>
  </Transfer>
  <Transfer>
    <Name>Hills</Name>
    <Extension>36308</Extension>
    <Parent>Collections</Parent>
    <Type>CT</Type>
  </Transfer>
</NewDataSet>