The primary purpose of this change is to support users in creating openfunds templates by grouping the fields into sections and providing more clarity around informational field tags. Some less useful informational tags have been removed to pare down the number of tags a single field typically has. openfunds previously used a set of purely informational tags that could be used to search or filter the feed set using a mix of different concepts including the type of field data (e.g. “Tax data”), an associated regulatory standard (“MiFID II”) or information about how the field should be used (“No longer supported field”).
With the increasing size and complexity of the openfunds dataset, we would like to implement a feature to make the dataset easier to sort and filter on factors such as the relative importance, regional relevance, or regulatory association of fields. This will allow users to create their own tailored field subsets more easily. For example, a user might wish to filter the dataset to show only high importance fields relevant to European markets, and the new tag structure proposed should allow this to be done more easily.
The new openfunds tags can be broadly sorted into 3 groups:
- Complementary template tags – all fields must have one of these tags, which can be used to sort the dataset into segments. These tags are intended to give information useful for the creation of templates from the dataset. Only one field, OFST020000 ISIN, currently has multiple complementary template tags, as it is used in multiple segments as the primary identifier. The segments are explained in full in the “New tags” section.
- Supplementary template tags – these tags are also intended to give information useful for the creation of templates, such as jurisdictional relevance, but they are entirely optional and most fields do not have one of these tags.
- Informational tags – these tags are, much like the original openfunds tags, given purely for informational purposes and not intended to be used for template creation. They contain a mixture of information, from categorization of the field type (Feed and expenses) to indications of field status (No longer supported).
The full list of current tags (as of v1.27.1 of openfunds) is as follows:
- Essential – the most important static data fields, required for fund set-up on most users’ systems and included in most templates.
- Core – important and commonly used static data fields, data that will be required by most users.
- Additional – not as important or ubiquitous as Core fields, but still part of recommended data deliveries.
- Template-specific – fields included in an industry-standard openfunds template. openfunds endeavours to match these templates as closely as possible and filtering to one of these tags should provide a template that is a close analogue of the industry template.
- Data type-specific – fields belonging to a specific non-static data type.
- Ratios and Exposures
- Portfolio Holdings
- Portfolio Manager
- Full – all other static data fields that do not fall into one of the other complementary segments
- Country-specific – fields only relevant for funds either domiciled or distributed in a given jurisdiction, tagged with the ISO 3166-1-alpha-2 code for that jurisdiction (e.g. GB for the United Kingdom)
- Fund type-specific – fields only relevant for certain types of funds, tagged with the type of fund (e.g. ETF for exchange traded funds)
- Fees and expenses
- Multiple country field (XX=ISO country code)
- Country specific field
- No longer supported
The following tag name changes have been implemented:
- Internal fields of different recipients. Please see the fourth page for detailed overview of assigned blocks à Internal
- No longer supported field –> No longer supported
- Removed field –> Removed
- Dynamic Data –> Dynamic
The following previously used tags have been removed. These can be broadly split into four categories:
- Informational tag where the information can be derived from the field’s position in the field set (e.g. all fields in OFST000001 – OFST000999 are “General information” and a tag is not required to show this)
- General information
- Key Fact: Company
- Key Fact: Umbrella
- Key Fact: Fund
- Key Fact: Share Class
- Key Fact: Fund Manager
- Key Fact: Listing
- Legal structure
- Purchase Information
- Performance and risk data
- Prices, assets and number of shares
- Regulatory informational tags that are either obsolete, little-used or have been merged into another tag
- PRIIP data
- MiFID II data
- Solvency II
- PRIIPs and MiFID cost fields
- MiFID II target market
- EMT 2.0
- Informational tags where the information given was not considered particularly useful:
- Other tags that were either mostly or entirely unused:
- Non-openfunds field (use senders field name instead)
- Field to ignore (during transmission)
- Distribution data and corporate actions
- Contact Information
- Comprehensive enumeration
- Tax data
- Execution data
|Title:||Field tag structure|
|Authors:||Charlie Duffin, Michael Partin|
If you have any questions about the new data type or difficulties with implementation please contact us at firstname.lastname@example.org.
If your firm has a need to reliably send or receive fund data, you are more than welcome to use the openfunds fields and definitions free-of-charge. Interested parties can contact the openfunds association by sending an email to: email@example.com
c/o Balmer-Etienne AG
Tel.: +41 44 286 80 20
Email: firstname.lastname@example.org Website: https://www.openfunds.org