Policymakers increasingly use available big data to improve the transparency and understanding of financial markets. The European Market Infrastructure Regulation (EMIR) requires transaction-level data on derivatives contracts to be reported to trade repositories and grants the European Systemic Risk Board access to the EU-wide dataset. The full dataset consists of approximately one hundred million observations per day.
In order to exploit the wealth of information from this dataset, the European Systemic Risk Board, together with the European Central Bank, runs the Alberto Giovannini Programme for Data Science (previously known as the EMIR Bridge Programme for Data Science). The programme is named in honour of Alberto Giovannini and his many contributions to the ESRB and to policymaking in general. Mr. Giovannini strongly believed that "effective policy action requires robust informational and analytical support", and that macroprudential authorities should have a superior knowledge of the financial system.
The programme seeks to develop novel analytical methods and to build a bridge between the policymaking and research communities, in order to foster interaction and collaboration.
Following a call for proposals, successful applicants are assigned to specific business areas in accordance with their main research projects. For more information, please contact us at EMIR-AG@esrb.europa.eu.
Would you like to get involved? Watch this space for upcoming opportunities.