The implementation of the SDMX standards by the ECB and

the European System of Central Banks

Werner Bier (ECB)

Gérard Salou (ECB)

Sami Airo (Bank of Finland)

• The SDMX data model and the ESCB systems

• ESCB/Eurosystem implementations of the SDMX standards in:

– data structures (compliant with the SDMX information model)

– data and metadata exchanges using SDMX-EDI (GESMES/TS)

– web dissemination

• interface to the statistical data warehouse

• euro reference exchange rates

• euro area aggregates and national breakdowns; example: the Bank of Finland implementation

• Costs and benefits

• Way ahead; conclusions

Presentation structure

The SDMX data model (and star schema):

AFREQUENCY

REF_AREA DE ADJUSTMENT N

TRANSACTION B101

ASSET Z

SECTOR 0

CP_SECTOR 0

USE_RES 2

DENOM N

SUFFIX 08

Observation 34955

TIME PERIOD 2005

the model is used in all layers of the ECB systems

…and associated attributes, e.g.• observation status, etc.& «higher level» attributes, e.g.• units• methodological info, etc

Use of (SDMX-based) data structures

• In the exchange, storage and dissemination of all data and associated metadata

• In the internal system and the communication with partner institutions and the general public (SDMX-ML based extractions from the web site)

• Covering most domains of economic statistics (e.g. monetary and financial statistics, balance of payments, price indices, short-term statistics, real sector, government finance statistics, securities, etc.)

SDMX-EDI (GESMES/TS) used in all data file-based data exchanges

27 EU central banks

ECB

EUROSTAT BIS

7 EU NSIs

IMF

ESCB

full support of extractions in SDMX-ML format

The ECB statistical data warehouse on the web

Euro reference exchange rates

Extractions into SDMX-ML format

Euro area aggregates and national breakdowns

ECB web site contents ● SDMX-ML ● mirrored NCB sources

Example: the ECB web page

Extractions into SDMX-ML format

The mirroredBank of Finland implementation

Euro area aggregates and national breakdowns

Example: the Bank of Finland (BoF) web page

How does this work?

XSLLayoutof BoF

website

ECB database

XML Data

from ECB

database

SDMX v1

XSLLayoutof ECB

website

BoF

OECD BIS

Statistics Finland

IMF

ECB

EUROSTAT ETLA

SDMX-EDI data exchanges at BoF

• The ESCB statistics sites appear as a co-ordinated

network with an entry point in all national central

banks (NCBs)

• Users do not have to leave the NCB web site to

consult ESCB data

• Look and feel of NCB web site can be applied

• Data is available in all Eurosystem national

languages

• Translation into national language is done by XSL

file and key family metadata

Achievements

Euro area aggregates and national breakdowns

Costs:

• Initial investment in tools and expertise (small if there is already a proper database infrastructure);

• Maintenance (negligible, as compared with less automated

means and tools)

SDMX implementations: costs and benefits

• structural metadata maintenance;

• technical maintenance

Benefits:

• Automation; efficiency; resources can be shifted to more important activities

• Minimum problem solving;

• Statistical harmonisation

• Common “language” and easy data sharing with others

• Flexibility; very fast and easy adaptation to other domains

• Rich metadata coverage

• Easy response to new requirements

• Great service to researchers; and to other domestic, European and other continents’ institutions

SDMX implementations: costs and benefitsRough estimates

• SDMX implementations in bulk data exchange -

estimated savings: (at least) 120 FTE per year;

also, lifespan of initial investment has been spectacular! The need for (very tiny only) changes in the basic technical infrastructure (write/read/load applications) has been negligible.

• SDMX benefits from the web dissemination:

so far, mainly to the ECB/NCBs profile and credibility, benefits to the general public and other institutions;

drastically reduced costs by not needing anymore “to send” data to institutions with which there are special agreements;

benefits become even more significant (also for home and third parties’ users) as more and more institutions implement

• More SDMX implementations across the globe

• Reducing costs of data sharing to a minimum

• The ECB already offers euro area data in SDMX-ML (easily downloadable by other institutions’ applications)

• ECB users keen to benefit from the implementations of other continents’ institutions

A world-wide implementation: way ahead

Questions?

Further information on the ECB statistics and SDMX:

http://www.ecb.int/stats/html/index.en.htmland then: “Data services”

e-mail: sis.external@ecb.int (ECB)

sami.airo@bof.fi (Bank of Finland)

Thank you!