ESAP Draft Standards Unveiled: Stakeholders Invited for Feedback

ESAP Draft Standards Unveiled: Stakeholders Invited for Feedback

By Prathamesh 18 January, 2024

The European Supervisory Authorities (ESAs) have published the draft Implementing Technical Standards (ITS) for the European Single Access Point (ESAP). The ESAP aims to provide seamless access to public data relevant to financial services, capital markets, and sustainability across the EU. The ITS, part of the Capital Markets Union Action Plan, are designed to enhance the use of centralized financial and sustainability data on the ESAP.

Stakeholders are invited to share their insights on the proposals, which outline the tasks of collection bodies and the functionalities of ESAP. Key elements of the consultation include automated validations for submitted information, characteristics of the Qualified Electronic Seal, open standard licenses, and details of the data collection API. The consultation also covers metadata characteristics, time limits for information provision to ESAP, and an indicative list of acceptable formats for data extractability and machine readability,recommending iXBRL as the ideal format.

Stakeholders can provide feedback until March 8 via the ESMA’s consultation page. The draft ITSs are expected to be submitted to the European Commission by September 2024,with ESAP becoming operational by July 2026.

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