DEFINITION: Reference Data Policy ABB is a Business Object being applied to data used to organise or categorise other data, or for relating data to information both within and beyond the boundaries of the enterprise. Usually it mandates the use of codes and descriptions, or definitions. Source: DAMA DM_BOK (http://www.dama.org) Reference data consists typically of a small, discrete set of values that are not updated as part of business transactions but are usually used to impose consistent classification. Reference data normally has a low update frequency. Reference data is relevant across more than one business systems belonging to different organisations and sectors [Source: J. Jordan & C. Ellen (2009). Business need, data and business intelligence]. INTEROPERABILITY SALIENCY: IoP Dimension: Governance IoP The Reference Data Policy ABB is salient for semantic interoperability because Reference Data can be shared and reused (e.g. in the form of taxonomies or controlled vocabularies) between organisation to agree on some basic information. Management of reference data is a priority as suggested by EIF's recommendation 31: "Put in place an information management strategy at the highest possible level to avoid fragmentation and duplication. Management of metadata, master data and reference data should be prioritised." EXAMPLES: The following implementation is an example on how this specific Architecture Building Block (ABB) can be instantiated as a Solution Building Block (SBB): FIRDS Reference Data System The intended audience of this document is National Competent Authorities, Trading Venues Systematic Internalisers and Data Reporting Service Provider (including Approved Publication Arrangement and Consolidated Tape Providers), who are going to implement system interfaces for the uploading of data to the Financial Instruments Reference Data System. This document aims to specify the exchange of Reference Data Information (RDI) between NCAS, Trading Venues, Systematic Internalisers and the Financial Instruments Reference System. Source: (https://www.esma.europa.eu/sites/default/files/library/esma65-11-1193_firds_reference_data_reporting_instructions_v2.0.pdf)