In an age that floods us with data, we need open data standards for orderly datasets. You might ask yourself, what are open standards?
Open standards for data are documented, reusable agreements that help people and organisations to publish, access, share and use better quality data. Open data standards must support the interoperability of data, which in this context, ensures the ability to interoperate different datasets.
The ability to analyse and combine datasets from different sources precisely provides a case in point for applying common data standards across various industry sectors, with benefits for financial markets and regulators themselves.Continue reading