MOSL has published a draft of its Market Data and Information Charter, as part of its Data Insight improvement programme.
The Charter is the first step in the creation of a Market Data Strategy. It outlines eight principles to enable the market to deliver enhanced services and better customer choice through the improved use, better quality and better sharing of data.
To produce the Charter, MOSL has worked with several stakeholders, including various trading party representatives, Ofwat, the Technology Advisory Group (TAG) and the Digital and Data Committee (DDC) to understand the underlying issues and strategic priorities that should be addressed in both the Charter and overarching strategy. Working with data consultancy, Aimii, the Charter principles have been split into three sections, each with underlying commitments:
Managing data
1. Simple, cost-effective data capture
2. Data is secure
3. Redundent and obsolete data is properly managed
Building the value of data
4. Consolidated view of market data
5. Data is outcome and value driven
Improving how we work together
6. Data is easily accessible, consumable and user friendly
7. Data is assured and can be trusted
8. Data is owned.
These principles and their underlying commitments outline how we can support the market in driving value from data and in overcoming some of the challenges we face.
Project sponsor and MOSL CIO, John Davies, says: “It’s no secret that poor quality data is the root cause of many issues in the market, and this Charter is the first step in a long, but essential journey to improve both the quality and use of data. As custodians of the Central Market Operating System (CMOS) we look forward to continuing to work with stakeholders to deliver evidence-driven change and improvement to the market through our improved understanding and use of the central data we hold (and opportunities to extend and augment this data set).”
Following its publication, MOSL will work with Aiimi to develop the data strategy informed by a series of workshops with trading party representatives. The Charter will be a living document able to respond and adapt to changes within the market, including new technology and data sources. We welcome trading party feedback on the charter and the project more generally. Please send your feedback to MOSL’s Data Strategy and Governance Lead, Luke Austin [
The strategy is set to be published by the end of Q4 2021/22. For more information, please visit the dedicated MOSL webpage.
