Investment Data Standards Organization
AbbreviationIDSO
Formation23 October 2017
TypeNon-governmental organization
PurposeStandards & best practices
HeadquartersManhattan, NY

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][5] 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.[6][7][8][9][10]

Membership

IDSO serves managers and compliance teams in the Alternative Data industry who are interested in regulatory guidance.[11][12][13][14] Companies that participate in the Alternative Data ecosystem include:[15]

  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):[16] 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:[17][18] 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).

References

  1. ↑ "Investment Data Standards Organization Homepage". Investment Data Standards Organization.
  2. ↑ Kolanovic, Marko; Krishnamachari, Rajesh (May 29, 2017). "Big Data and AI Strategies - Machine Learning and Alternative Data Approach to Investing". RavenPack. J.P. Morgan, Global Quantitative & Derivatives Strategy. Archived from the original on 22 July 2018. Retrieved 20 February 2018.
  3. ↑ Ekster, Gene. "Driving Investment Performance with Alternative Data" (PDF). Integrity Research. Retrieved 21 February 2018.
  4. ↑ Z., W. (22 August 2016). "Why investors want alternative data". The Economist. Retrieved 20 February 2018.
  5. ↑ Kolanovic, Marko; Krishnamachari, Rajesh (May 29, 2017). "Big Data and AI Strategies - Machine Learning and Alternative Data Approach to Investing". RavenPack. J.P. Morgan, Global Quantitative & Derivatives Strategy. Archived from the original on 22 July 2018. Retrieved 20 February 2018.
  6. ↑ Ekster, Gene (May 2, 2016). "Mitigating Alternative Data Compliance Risks Associated with Web Crawling". Integrity Research. Retrieved 20 February 2018.
  7. ↑ "The Privacy Impact Assessment (PIA) Guide" (PDF). U.S. Securities and Exchange Commission. January 2007. Retrieved 20 February 2018.
  8. ↑ "Security & Privacy Best Practices". Online Trust Alliance (OTA). January 21, 2015. Retrieved 20 February 2018.
  9. ↑ "Guidelines on the Protection of Privacy and Transborder Flows of Personal Data" (PDF). Organisation for Economic Co-operation and Development. Retrieved 20 February 2018.
  10. ↑ "Guide to Managing Information Security Risk" (PDF). National Institute of Standards and Technology Special Publication. NIST. Retrieved 20 February 2018.
  11. ↑ "The Privacy Impact Assessment (PIA) Guide" (PDF). U.S. Securities and Exchange Commission. January 2007. Retrieved 20 February 2018.
  12. ↑ "Security & Privacy Best Practices". Online Trust Alliance (OTA). January 21, 2015. Retrieved 20 February 2018.
  13. ↑ "Guidelines on the Protection of Privacy and Transborder Flows of Personal Data" (PDF). Organisation for Economic Co-operation and Development. Retrieved 20 February 2018.
  14. ↑ Ekster, Gene (8 July 2015). "Alternative Data Research Compliance". Integrity Research Associates. Retrieved 21 February 2018.
  15. ↑ Mayhew, Michael. "MITIGATING LEGAL RISKS ASSOCIATED WITH ALTERNATIVE DATA" (PDF). Integrity Research Associates. Retrieved 22 February 2018.
  16. ↑ 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)" (PDF). National Institute of Standards and Technology.
  17. ↑ "The Digital Millennium Copyright Act of 1998" (PDF). U.S. Copyright Office. Retrieved 20 February 2018.
  18. ↑ "Legal Cases Relating to Web Harvesting" (PDF). Eagle Alpha. Retrieved 20 February 2018.
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