New report sheds light on quality and use of regulatory data across EU
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, is publishing today the fourth edition of its Report on the Quality and Use of Data aiming to provide transparency on how the data collected under different regulations is used systematically by authorities in the EU, and clarifying the actions taken to ensure data quality.
ESMA is bringing new developments in this edition such as connecting the dots with the overall ESMA Data strategy and technological evolution, including a greater coverage of datasets and sharing highly demanded information on data quality indicators.
The report provides details on how National Competent Authorities (NCA’s), the European Central Bank (ECB), the European Systemic Risk Board (ESRB) and ESMA use the data that is collected through the year from different legislation requirements, including datasets from European Market Infrastructure Regulation (EMIR), Securities Financing Transactions Regulation (SFTR), Markets in Financial Instruments Directive (MIFIR), Securitisation Regulation, Alternative Investment Fund Managers Directive (AIFMD) and Money Market Funds Regulation(MMFR).
To understand better how the information was used, ESMA collected detailed input from NCAs, ECB and ESRB regarding their use of data in the day-to-day operations, covering a range of use cases from market monitoring to supervision, enforcement and policy making.
The report presents the results of the data quality actions undertaken in 2023 across various datasets, compilating specific examples where the implementation of engagement frameworks leads to measurable improvements of data quality, while stressing that, in specific areas, data quality issues tend to persist over time.
Finally, to increase transparency with external users and to support them in their efforts to enhance the quality of the data reported, the document also brings a new annex presenting the methodology to calculate the data quality indicators on four datasets; as well as a code to perform web-scrapping from the websites of APAs to collect transparency data.
Next Steps
A webinar to present the report in more details will be held on 26 April from 11:00 -12:00 CET. To attend, please register here.
Further information:
Cristina Bonillo
Senior Communications Officer
@ press@esma.europa.eu