ESMA publishes new data strategy
The European Securities and Markets Authority (ESMA) has unveiled its new Data Strategy for 2023-2028. This strategy aims to optimise data reporting processes, promote collaboration, and ensure the effective use of data in financial markets. ESMA, the EU’s financial markets regulator recognises the growing importance of data in the digital age and aims to harness its potential to benefit its stakeholders.
The strategy comes in response to the rapid growth of new technologies as well as evolving supervisory mandates including the Corporate Sustainability Reporting Directive (CSRD) and the establishment of a European Single Access Point (ESAP).
ESMA outlines several objectives. Foremost is ESAP — the goal to become an enhanced data hub, to improve data accessibility, usability and standardisation. ESMA also seeks to ensure information is provided to investors in machine-readable format and to connect the dots between different data sets.
To help achieve the strategy’s goals, ESMA is launching a new Data Intelligence and Technology department, responsible for developing a thorough understanding of stakeholder needs and executing on the regulator’s priorities.
We’re pleased to see ESMA aiming be a leader in modernising data reporting technologies. There is a welcome focus on enhancing data quality and facilitating central data access to a broad group of stakeholders.
Read more here.