Post on 27-Dec-2015
FundsXML
A European Data Delivery Standard for
Investment Information - an enhancement for
Data Management
Dr. Carsten LüdersSenior Vice-PresidentHead of Research and Market Analysis
BVI Bundesverband Investment
und Asset Management e.V.
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Agenda
I. Total number of funds in Europe
IV. The development of FundsXML - from a national solution to a quasi European standard
II. Data exchange between market participants
III. The main objectives of FundsXML
VI. Organisation, users and projects of FundsXML
Total number of funds in Europe
21,498
37,607
40,89243,071 43,090 43,514 44,498
47,354
51,17553,802
52,064 52,636
1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Source: BVI, EFAMA
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Agenda
I. Total number of funds in Europe
IV. The development of FundsXML - from a national solution to a quasi European standard
II. Data exchange between market participants
III. The main objectives of FundsXML
VI. Organisation, users and projects of FundsXML
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Data exchange between market participants
Depositary bankServices
Data vendors
Associations
Investment company
OfficialDelivery commitments
Ratingagencies
Investment company
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Agenda
I. Total number of funds in Europe
IV. The development of FundsXML - from a national solution to a quasi European standard
II. Data exchange between market participants
III. The main objectives of FundsXML
VI. Organisation, users and projects of FundsXML
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The main objectives of FundsXML
FundsXML is a standardized data format for exchanging fund information
It facilitates a wide range of business processes in the fund industry
The initial focus is on sales and reporting activities
The reporting obligations of the investment companies may be covered by FundsXML
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The main objectives of FundsXML
Keep the organisation flexible and cost-efficient
Protect investments in IT systems based on the standard
Coordinate the initiative with similar international standards
Stimulate national and international acceptance of the standard
Invite third parties to participate in (further) developing the standard
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The main objectives of FundsXML
Protect the intellectual property from abuse (license requirements) and secure its legal status
• the name FundsXML has a copyright at EU level for the next ten years
• this copyright was done by FundsXML France in the name of the FundsXML Standards Committee.
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The main objectives of FundsXML
FundsXML can contribute to cost reductions
cost reductions in the development of an interface
• several interfaces are replaced by one single interface
• easy installation and data distribution
cost reductions for maintenance
• only one interface has to be supervised and adjusted
• customer‘s requirements can be implemented more easy and faster
Higher data quality
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The main objectives of FundsXML
FundsXML is based on XML – a modern standard for data description
• XML is widely accepted and supported
• XML can be converted easily to different data formats
It is an open source product
System-independent
• independent of the operating system
• independent of the programming language
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Agenda
I. Total number of funds in Europe
IV. The development of FundsXML - from a national solution to a quasi European standard
II. Data exchange between market participants
III. The main objectives of FundsXML
VI. Organisation, users and projects of FundsXML
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The development of FundsXML - from a national solution to a quasi European standard
Leading German investment companies:
Allianz Global, COMINVEST (now AGI), CREDIT SUISSE ASSET MANAGEMENT, DEKA, DWS, UNION
The Swiss investment company Vontobel
The software provider K&W Software AG
The asset management company and the data providerFERI TRUST
started the initiative in 2001
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The development of FundsXML - from a national solution to a quasi European standard
BVI supports FundsXML as data delivery standard since 2003
Next members of FundsXML Standards Committee:
October 2006: the Austrian investment association VÖIG as well as Erste Sparinvest and the OeKB
April 2007: Robeco from the Netherlands
September 2008: DIAMS (FundsXML France) and the Danish investment association IFR join the initiative.
November 2009: La Banque Postale Asset Management
April 2010: The French investment association (AFG)
November 2010: Finesti from Luxemburg
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Agenda
I. Total number of funds in Europe
IV. The development of FundsXML - from a national solution to a quasi European standard
II. Data exchange between market participants
III. The main objectives of FundsXML
VI. Organisation, users and projects of FundsXML
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The organisation of FundsXML.org
The “FundsXML Standards Committee” (FSC) as the highest-decision-making body
Working Groups
FundsXML Charta defines a minimum of structures and procedures
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Use and users of FundsXML
Supply of distribution partners
• enables the daily data recall via web services
• data basis for reporting
Supply of information provider as multiplicators for fund data
Data basis for sales supporting software
Data delivery for legal reporting obligations
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The variety of information of FundsXML version 3.0.3
The latest version 3.0.3 can be used for:
The data delivery to the central banks in Germany and Austria
Data delivery for all BVI statistics
VAG-Reporting
Reporting for the Austrian law for pension funds
Reporting obligations concerning Basel II
Shadow accounting
An extended data base for sales
Reports to data providers like Thompson Reuters, Bloomberg, Morningstar, FundConnect
Fund Processing Passport
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FundsXML – current projects
Creation of a new FundsXML Data Dictionary
Integration of the relevant data fields for Key Investor Document (KID)
Data fields for the creation of annual and semi-annual prospects
Integration of data fields for an entire data exchange between depositary banks and investment companies