Financial Data

Capital market participants use financial data, including personal data, in their normal course of business as it has grown increasingly central to providing efficient services to clients.

Firms and policymakers have a mutual interest in ensuring the proper handling of such data to ensure its security without being overly restrictive of data flows and usage.



GFMA International Principles to Improve Data Security and Mobility to Support Global Growth

March 2019  |  Correspondence  |  White Papers and Reports

GFMA and its constituent bodies AFME, ASIFMA and SIFMA support an open and resilient global economy in which financial services can boost international trade and investment, and global economic growth while protecting individuals’ rights to privacy. With the rise of the digital economy, policymakers around the world have rightly strengthened their policies that protect data and privacy, while continuing to enable cross-border trade that contributes to global economic growth.

GFMA and PwC Report on Technology and Innovation in Global Capital Markets

March 2019  |  Correspondence  |  White Papers and Reports

The Global Financial Markets Association (GFMA) and PwC have published a report on current trends in technology and innovation and their impact on the investment bank of the future. The report, entitled ‘Technology and Innovation in Global Capital Markets,’ examines the key trends which are expected to impact the industry over the next five years, providing a vision for the future and identifying the implications for the industry and for future policymaking.  

GFMA Financial Data Handling Principles for Banks and Non-Banks

February 2019  |  Correspondence  |  White Papers and Reports

GFMA has released its Financial Data Handling Principles for Banks and Non-Banks as a voluntary set of principles drawn from international best practices. The principles are based on both the U.S. NIST Cybersecurity Framework and the European Union’s General Data Protection Regulation (GDPR).

GFMA Guiding Principles for Market Transparency

April 2018  |  Correspondence  |  Press Releases

GFMA published Guiding Principles for Market Transparency.

Increasingly, regulators are developing public transparency requirements across markets and jurisdictions, which highlights differing policy objectives for rules and the need for shared global principles. Market transparency requirements should support specific policy objectives, consider the fundamental structural differences between markets and among asset classes, and provide meaningful and useful information to market participants while doing no harm to market integrity, liquidity, efficiency and resilience.  Fundamental structural differences between markets, including participants and their needs, preclude a “one-size-fits-all” approach. 

GFMA encourages policymakers and regulators to design market transparency frameworks in line with the following principles:

I.             Transparency to regulators should be timely, consistent and appropriate to fulfil market surveillance duties and to support market integrity.

II.            Public market transparency requirements should support the provision of liquidity for price formation and risk management, while doing no harm to market integrity, liquidity, efficiency and resilience.

III.           The level of transparency and timing for reporting should be appropriately calibrated based on regulatory intent, market structure, and liquidity profiles of specific assets.

IV.          An effective transparency framework is based on consultation with all market participants and a cost-benefit analysis.

V.            The market’s ability to implement requirements, including on a cross-border basis, if appropriate, is critical.

See: Full Press Release here.

Load More


GFMA One-Pager on LEI Requirements in the SFTR

October 2019  |  Policy Resource  |  Market Transparency Requirement

The Securities Financing Transaction Regulation (SFTR) entered into force on 11 April 2019, with a phased-in compliance period. Compliance with the regulation requires that reporting firms provide their own LEIs as well as the LEIs of their counterparties. This document explains the requirement and the firms impacted.

GFMA/ISDA FAQs on Obtaining an LEI

October 2019  |  Policy Resource  |  Legal Entity Identifier (LEI)

This document provides answers to commonly asked questions regarding the LEI. Several regulators around the world require or are anticipated to require LEIs for transaction reporting and for other uses where clear identification of market participants is needed. Obtaining an LEI is a straightforward and efficient process.

Load More


GFMA Releases Guiding Principles for Market Transparency

16 April 2018   |   News  |  Financial Data

HONG KONG, LONDON and WASHINGTON, 16 April 2018 – The Global Financial Markets Association (GFMA), which represents the common interests of the world’s leading financial and capital market participants, released “Guiding Principles for Market Transparency.” 

Load More