[ESMA50-1490586361-4009 ] ESMA launches Data Strategy for the next five years – Press Release

ESMA released its Data Strategy for the period of 2023-2028. The strategy aims to enhance ESMA’s role as a supervisor and a data and information hub within the EU’s financial markets. ESMA’s main objectives for the next five years include facilitating the use of new data-related technologies, reducing reporting compliance costs for regulated entities, enabling effective data use at both EU and national levels, and making data more accessible to the public.
The key objectives of ESMA’s Data Strategy include becoming an enhanced data hub, ensuring access to data of public interest, promoting data-driven supervision, increasing data collaboration, producing efficient data policy output, and facilitating systematic data use for evidence-based policy development, supervision, and risk assessment.
To achieve these objectives, ESMA plans to focus on improving data and information accessibility, interoperability, and usability. It also aims to provide easily accessible and usable information in machine-readable formats to market participants, including retail investors. ESMA will promote cutting-edge, smart, and effective data-driven supervision through the use of innovative technologies and collaboration. It also aims to enhance data standardization, quality, and reusability while promoting the adoption of innovative technologies.
ESMA’s Data Strategy further aims to reduce the compliance burden for reporting entities by streamlining and optimizing reporting flows, facilitating data sharing, and leveraging emerging technologies. The strategy also emphasizes the establishment of processes, methodologies, and tools to enable systematic data use for evidence-based decision-making, policy development, supervision, and risk assessment.
The strategy document provides a roadmap for the implementation of the objectives, outlining specific actions and target capabilities. It highlights the need for resources and sets out a communication plan to ensure stakeholders are informed and engaged throughout the process.