BEIJING, May 27 (Xinhua) -- China Securities Regulatory Commission (CSRC) released on May 24 data-related industry standards to facilitate the digital transformation of financial institutions, reported Xinhua Finance on May 24.
According to CSRC's announcement, the data-related financial industry standards are investment research-based time series data reference models and the part I and part II of the basic data element specifications for securities and futures industries.
Effective from May 24, the reference models standard provides the main data system for investment research-based time series data, specifications for data indicator name, data definition, and data API.
CSRC said in its announcement that releasing of the reference models standard is helpful to improve the quality of related data for investment research, realize co-sharing of time series data among financial industry institutions and further leverage the application value of data.
Part I and part II of the basic data element specifications for securities and futures industries are standards set respectively for related basic data elements and basic codes, which define the names, definitions, classifications, types, and lengths of core data items broadly used in securities and futures industries.
According to CSRC, debut of all the above-mentioned financial industry standards is expected to further improve the accuracy of sector basic data, reduce data processing costs and foster the digital transformation of financial institutions.
For next step, CSRC planned to further advance the capital market informatization and digitization construction and work on basic standards compiling to bolster information exchange-related standards study and formulation and cement the basis for sci-tech regulation and supervision.
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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