FSC Says Nearly 30,000 Open API Usage Applications Filed Since Opening Financial Public Data
"Expansion of AI-Friendly Data to Continue This Year"
The Financial Services Commission announced on July 24 that since opening financial public data in the form of open APIs (Application Programming Interfaces) in June 2020, there have been 29,011 open API usage applications and 615.05 million data usages as of June this year.
As of the end of June, the number of data provided through the Public Data Portal reached 3,327,740,000. The primary purpose for using the data was website and app development, accounting for 48.5% of the total. This was followed by reference materials (16.2%), research (12.1%), and educational purposes (7.1%).
The individual API that received the highest number of usage applications was stock price information, with 5,003 applications (17.2%). This was followed by corporate financial information (2,859 applications, 9.9%) and basic corporate information (2,343 applications, 8.1%).
According to the "Financial Public Data User Satisfaction Survey" conducted in May, 94.1% of respondents were satisfied with the open data services. The main reasons for satisfaction were "convenience of data usage" (17.6%), "free access" (16.5%), and "highly useful data" (15.3%). The most frequently used data topics were corporate information (48.8%), stock price information (31.8%), and capital market information (29.4%).
Among respondents, 38.2% reported using the data in the field of artificial intelligence (AI). The data with the highest AI utilization rates were corporate information (44.1%), stock price information (17.6%), and stock dividend information (12.4%).
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This year, the Financial Services Commission plans to further expand the subcategories of basic corporate information and governance structure information, which showed high AI utilization. It also plans to newly open capital market information such as ESG (Environmental, Social Responsibility, and Corporate Governance Improvement) indices and product information, as well as fund product sales status.
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