EU Financial Services Launch Templates For Data Exchange

European financial services organisations have launched the Financial Data Exchange Templates (FinDatEx) platform to support the development and use of standardised templates to exchange data between European financial sector institutions.

FinDatEx aims to allow EU financial services representatives:

• To interact in order to develop technical templates.
• To coordinate and organise any standardisation work that is carried out by experts from different financial services.
• To help disseminate technical templates to other relevant EU financial services stakeholders.

FinDatEx is comprised of the European Banking Federation (EBF), the European Fund and Asset Management Association (EFAMA), Insurance Europe, the European Savings and Retail Banking Group (ESBG), the European Association of Cooperative Banks (EACB), and the European Structured Investment Products Association (EUSIPA). It is open to other European Associations who want to participate in the new structure.

The joint structure will build on the successful informal collaboration within the European Working Group (EWG). Through the improved governance structure, relevant templates for data reporting between European financial institutions are to be drafted and adopted following a clear and inclusive process.

Ghislain Périssé, who was instrumental in steering the EWG work said: “I welcome the creation of FinDatEx and look forward to contributing to its success and to continue working on the templates in this context”.

The work already initiated on a Solvency II tripartite template (TPT), European PRIIPs templates (EPT and CEPT), a European MiFID template (EMT), and a MiFID feedback template (MFT) will be continued. Other workstreams are also being assessed.

All templates are provided to the industry free of charge and are free of any intellectual property rights.

Source: EFAMA

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