Kategorie: Cooperation

We are pleased to announce the formation of the new Working Group „Documentation“. As the name suggests, this initiative aims to enhance the comprehensiveness of our documentation in oder to better meet the needs of FundsXML users.

We warmly invite all interested parties to join this working group. This is a great opportunity to collaborate with other experts, expand your knowledge, and contribute to the advancement of the FundsXML standard.

If you or your business partners are interested in participating, please send a brief message to office@fundsxml.org. We will then inform you about the next steps and the schedule for our first meeting.

Data has become the fundamental economic resource of the 21st century. As new concepts and dynamics emerge within the world economy, recognizing the importance of data can bring many benefits to financial institutions.

Well aware of these developments, the EU policymaker has taken decisive steps toward the digital transformation of finance. With the publication of the legislative proposal for the European Single Access Point (ESAP) at the end of November 2021, these aspirations have taken a concrete form. ESAP will require financial institutions, among other entities, to file the information relevant for a huge variety of financial and sustainability issues in order to be displayed on a central data platform. Specifically, the ESAP legislative proposal forsees the amendment of 37 legal acts, with a broad range directly affecting the financial industry. The first reporting requirements are set to apply from 2024 and will already include data on the EU taxonomy on green economic activities. Data should be transmitted in consideration of a „all in one file“ principle to a collection body which in then links it to ESAP. As collection bodies are expeced to make use of machine-readable and standardized formats, ESAP will enable investors to harness gains from the key resource of today’s economy.

Once again, the outlined dynamics show, that innovative FundsXML users are able to react to obvious trends much earlier and are undoubtedly well equipped for the future. In keeping with the motto “all in one file” FundsXML is ready for the data-driven future of financial markets.

As both investors, as well as financial institutions, incorporate environmental, social, and governance (ESG) factors in their portfolios a strong demand for consistent and standardized data is omnipresent.
Beyond that, a shifting regulatory landscape gives further momentum to this development. As the EU legislator is currently discussing and extending the integration of ESG criteria into a variety of EU frameworks, it seems clear that wider ESG disclosure requirements will require financial institutions to gather and provide standardized ESG data, both for financial instruments as well as their underlying’s.

Since the very beginning of the FundsXML initiative, it is our mission to improve and accelerate the automatization of standardized funds related data. Today’s increasing demand for standardized data shows clearly: We are on the right path. With that in mind, our goal for the future is clear: The further development of the FundsXML standard, in order to facilitate the standardized exchange of such ESG- data.

Particularly bearing in mind that the FinDatEx structure acts as the main body for standardizing (ESG)-data across the European Financial Services industry we closely monitor the developments there and fully integrate all (upcoming) standardized technical templates into the FundsXML schema.

As the global interest for an easy and standardized exchange of funds related data continues to grow, the Fundsxml organisation hits 100 associate members.

Even in a challenging year as 2020 the interest in the FundsXML standard has been phenomenal. Since the beginning of the year the FundsXML organisation expanded by 7 associate members and has now members across many important financial markets worldwide, including London, Frankfurt, Paris, Zürich and New York just to name a few.

An Associate membership program offers vast insights on important issues at the crossroads of reporting and technology. To find out more about the associate membership click here.