Phases of Ellipse

The project is being developed in the following phases.



Phase 1 January to September 2021

The first phase explores the potential process efficiencies gained by both authorities and financial institutions if granular data could be mapped to a common cross-border data model, thereby moving away from fixed templates. For authorities, having access to granular data also increases the volume of information needed to enable the use of advanced analytics. In Phase 1, the BISIH, the MAS, the Bank of England (BoE) and the International Swaps and Derivatives Association (ISDA) collaborated to explore the concept of cross-border digital regulatory reporting, using a machine executable data model.

Phase 2

August to February 2022

In Phase 2, the project explores the use of advanced analytics such as artificial intelligence (AI) and machine learning (ML) to mine unstructured sources of data and highlight correlations between current events and supervisory metrics. Insights extracted from the mined data would be displayed as early warnings for supervisory attention via a dashboard.


March 2022

The project will develop a prototype and demonstrate a reference implementation of an integrated data and analytics platform for central banks and regulatory authorities. The Ellipse platform will be built using an open-source data model and technology stack that can be shared with regulatory authorities and financial institutions globally to achieve this purpose. Each phase of the work will show components of the integrated platform, with a view to enabling stakeholders to “plug and play” these components within their own environments.

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