The European Securities and Markets Authority (ESMA) has published its latest report on the quality and utilisation of regulatory data within EU financial markets. This edition emphasises the growing necessity for reliable and accessible data for effective supervision and market stability.

High-quality data is now essential for ESMA to monitor risks, ensure orderly markets and drive regulatory modernisation. In 2024, ESMA migrated its datasets to a modern big data platform, greatly improving the analytical capabilities of both ESMA and national regulators. The launch of the ESMA Data Platform (EDP) and the collaborative SHARE project has connected 30 national authorities, facilitating the sharing and evaluation of critical market data.

A significant development this year was the implementation of EMIR REFIT, which introduced the stringent ISO 20022 XML format for derivatives reporting. While this has improved data accuracy, ESMA notes that firms must remain proactive in addressing ongoing discrepancies and upgrading systems.

The report also highlights expanded coverage, including new analyses of short-selling activities and the adoption of the European Single Electronic Format (ESEF) for financial reports. ESMA intends to simplify reporting obligations further in the coming years by consolidating data streams, reducing redundancy and increasing the use of advanced analytics and AI.
Looking to the future, ESMA is committed to greater automation, improved cooperation with national authorities and continuous quality improvements, ensuring that EU financial regulation remains robust and fit for the digital age.

The entire report is available here – ESMA12-1209242288-856 Report on Quality and Use of Data - 2024