To learn about the recent developments and what’s to come in regulatory data reporting in Europe, business information exchange and the related technologies, have a look at our brief summary of this year’s Eurofiling XBRL Week held in Warsaw at the Warsaw Stock Exchange, Poland on 28-30 May 2018.
The conference is a joint effort of Eurofiling and XBRL Europe taking place since 2005. It seeks to encourage collaboration, knowledge sharing and robust exchange of experience between the authorities regulating and supervising the financial market (European Banking Authority, EIOPA, ESMA, European Central Bank, SRB, European Commission, central banks and other), companies and organizations subject to regulations and supervision as well as experts in the fields of banking, insurance and capital markets’ supervision. This year’s Eurofiling event gathered more than 100 attendees from 33 countries and 16 different sectors.
The key topics touched upon during the event revolved around financial data standards (XBRL, SDMX, ISO20022) and identifiers (LEI, ISIN, UTI or UPI), new technologies regulations (CRD IV, AnaCredit, Solvency II, ESEF and other) and initiatives such as the European Commission DG FISMA Financial Data Standardisation Project, the European Central Bank’s SSM Mechanism, the Bank of England Data Standards and Data Strategy, International Accounting Standards Board IFRS Taxonomy and its updates and open source software projects.
A number of reporting frameworks and systems were discussed including the ECB’s XBRL Reporting, AnaCredit and granular data reporting, SDMX and DPM Interoperability and Money Market Statistical Reporting and ISO 20022, the European Banking Authority’s CRD IV DPM XBRL Reporting, EIOPA’s Solvency II DPM XBRL Reporting, the European Securities and Markets Authority ESEF Inline XBRL Reporting, National Bank of Spain SDMX System.
First day was dedicated to ESMA’s workshops around preparing for the European Single Electronic Format (ESEF), which should apply from 2020, as well as the Meet-the-Market session for software developers on the European Single Electronic Format.
Then Eurofiling Workshops took place with a follow-up from regulatory bodies such as European Banking Authority, European Central Bank and European Securities Markets Authority.
BR-AG experts contributed to several sessions, including:
- Reporting use cases for new technologies – machine learning, blockchain, open data – Karol Minczynski
- Comparison of information exchange formats XBRL, SDMX, ISO 20022 – Michal Zubrycki, Karol Minczynski
- Widening the horizons for Data Point Modelling (DPM) – Michal Skopowski PhD, Marek Wlodarczak
We highly recommend to visit http://eurofiling.info/2018/ to learn more about the topics and download the presentations.