Investment Data Standards Organization Explained

Formation:23 October 2017
Purpose:Standards & best practices
Headquarters:Manhattan, NY
Abbreviation:IDSO

The Investment Data Standards Organization (IDSO)[1] is a U.S.-based organization that publishes Alternative Data standards. IDSO was established to support the growth of the Alternative Data industry through the creation, development, and maintenance of industry-wide standards and best practices. IDSO is a non-profit 501(c)(6) organization made up of companies in the Alternative Data industry such as data originators, intermediaries, and institutional investment funds.[2] [3]

Overview

The Investment Data Standards Organization is an independent, non-governmental organization that publishes Alternative Data standards and best practices for personally identifiable information (PII), web crawling, and other security and compliance-related topics.[4] Consisting of companies in the Alternative Data industry such as data originators, research providers, aggregators, and investment funds, the Investment Data Standards Organization (IDSO) represents the interests of Alternative Data industry participants and supports the acceptance and adoption of Alternative Data by institutional investors. The use of standards enables robust and reliable Alternative Data products and services that meet U.S. privacy and security requirements.[5] [6] [7] [8] [9]

Membership

IDSO serves managers and compliance teams in the Alternative Data industry who are interested in regulatory guidance.[10] [11] [12] [13] Companies that participate in the Alternative Data ecosystem include:[14]

  1. Raw data originators, who collect or generate data,
  2. Research providers, who produce original research and derived signals,
  3. Aggregators, who enrich and aggregate data, and
  4. Investment funds, who use data to add value to their investment process.

IDSO publications are developed by working groups composed of representatives from these Alternative Data organizations. IDSO members work together in teams to create and edit standards and best practices.

Membership Functions

Investment Data Standards Organization (IDSO) members access IDSO publications, interact with industry participants, and drive change to help shape the future of the Alternative Data industry.

Publications

IDSO's main products are standards, checklists, technical reports, technical specifications, and guides. The standards currently available are related to personally identifiable information (PII), web crawling, and dataset compliance for sensitive information (SI):

  1. Personally identifiable information (PII):[15] The PII publications develop processes and risk management strategies for identifying, maintaining, and securing personally identifiable information (PII) in data sets used for investment management.
  2. Web crawling:[16] [17] The web crawling publications provide processes and procedures for data harvested or scraped from the web.
  3. Dataset compliance for sensitive information (SI): The dataset compliance publications assign a dataset compliance-level to datasets that contain sensitive information (SI).

Notes and References

  1. Web site: Investment Data Standards Organization Homepage. Investment Data Standards Organization.
  2. Web site: Kolanovic, Marko. Krishnamachari, Rajesh. Big Data and AI Strategies - Machine Learning and Alternative Data Approach to Investing. RavenPack. J.P. Morgan, Global Quantitative & Derivatives Strategy. 20 February 2018. May 29, 2017. https://web.archive.org/web/20180722070124/https://www.ravenpack.com/research/jp-morgan-big-data-ai-machine-learning-alternative-data/. 22 July 2018. dead.
  3. Web site: Ekster. Gene. Driving Investment Performance with Alternative Data. Integrity Research. 21 February 2018.
  4. News: Z.. W.. Why investors want alternative data. The Economist. 22 August 2016. 20 February 2018.
  5. Web site: Ekster. Gene. Mitigating Alternative Data Compliance Risks Associated with Web Crawling. Integrity Research. 20 February 2018. May 2, 2016.
  6. Web site: The Privacy Impact Assessment (PIA) Guide. U.S. Securities and Exchange Commission. 20 February 2018. January 2007.
  7. Web site: Security & Privacy Best Practices. Online Trust Alliance (OTA). 20 February 2018. January 21, 2015.
  8. Web site: Guidelines on the Protection of Privacy and Transborder Flows of Personal Data. Organisation for Economic Co-operation and Development. 20 February 2018.
  9. Guide to Managing Information Security Risk. National Institute of Standards and Technology Special Publication. NIST. 20 February 2018.
  10. Web site: The Privacy Impact Assessment (PIA) Guide. U.S. Securities and Exchange Commission. 20 February 2018. January 2007.
  11. Web site: Security & Privacy Best Practices. Online Trust Alliance (OTA). 20 February 2018. January 21, 2015.
  12. Web site: Guidelines on the Protection of Privacy and Transborder Flows of Personal Data. Organisation for Economic Co-operation and Development. 20 February 2018.
  13. Web site: Ekster. Gene. Alternative Data Research Compliance. 8 July 2015. Integrity Research Associates. 21 February 2018.
  14. Web site: Mayhew. Michael. MITIGATING LEGAL RISKS ASSOCIATED WITH ALTERNATIVE DATA. Integrity Research Associates. 22 February 2018.
  15. Web site: McCallister, Erika. Grance, Tim. Scarfone, Karen. National Institute of Standards and Technology Special Publication 800-122: Guide to Protecting the Confidentiality of Personally Identifiable Information (PII). National Institute of Standards and Technology.
  16. Web site: The Digital Millennium Copyright Act of 1998. U.S. Copyright Office. 20 February 2018.
  17. Web site: Legal Cases Relating to Web Harvesting. Eagle Alpha. 20 February 2018.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Investment Data Standards Organization".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.