Derivatives Service Bureau Launches Real-time ISINs for OTC Derivatives
Addressing the need for regulatory reporting obligations under MiFID II
London, UK – 2 October 2017
The Derivatives Service Bureau launched its real-time International Securities Identification Number (ISIN) creation service today and users can now create OTC derivative ISINs and obtain associated reference datato address regulatory reporting obligations and processing requirements.
A year after the initial announcement of the core functionality of the first automated global ISINallocation engine, the DSB has met its commitment to be in full production on this date. The first users are being onboarded for creation of ISINs for OTC derivatives, resulting in the beginning of a global OTC ISIN data archive, which will also contain Classification of Financial Instruments (CFIs), Financial Instrument Short Name (FISNs) and associated reference data. Inclusion of ToTV (Traded on a Trading Venue) flagging will begin UAT testing on 20 November and move into production in the latter half of December 2017.
“The successful launch into production illustrates the effective collaboration between industry and the DSB to enable market participants to meet their European reporting obligations,” said Dan Kuhnel, chair of the board of the Association of National Numbering agency, parent organization of the DSB.
The DSB provides Web-based, direct connection and intermediary access to the DSB services of OTC derivative ISIN creation and access to the OTC ISIN data archive for research or download. Registered users requiring only Web-based research and/or automated download of the archive current to the most recent end-of-day are charged no fees. For users creating ISINs, requiring intraday information about new ISINs or connecting programmatically to the DSB, annual fees are charged, funding the operations of the DSB on a cost-recovery basis. The DSB ISINs may be used and redistributed without restriction.
Today’s launch signals the beginning of the transition from pre-production User Acceptance Testing (UAT) mode that has been open for five months. More than 500 users from 167 organizations made use of the UAT environment. Sixty-six organizations have applied for direct FIX connectivity, of which 36 are active across 130 connections. Three organizations have connected with the UAT environment through the REST API. Many more organizations have informed the DSB that they are evaluating connectivity options, including utilizing intermediaries for programmatic connections.
The launch of the DSB production environment also represents the ongoing work of the DSB Product Committee, the industry group responsible for determining the reference data requirements to create
ISIN identification codes for a broad range of over-the-counter derivative products. These product templates have been loaded into the DSB.
“We congratulate and thank all who contributed to turning this vision into a reality for the benefit of the global financial industry”, says Emma Kalliomaki, Managing Director of the DSB.
For additional information and assistance in becoming a DSB user, please contact firstname.lastname@example.org.
About The Derivatives Service Bureau (DSB) Ltd
Headquartered in London, the DSB is a legal subsidiary of ANNA. Its core purpose is to serve as a global numbering agency, providing unique identification of OTC derivatives to serve the needs of market participants and regulators through allocation of the International Securities Identification Number (ISIN), as well as the Classification of Financial Instruments (CFI) and Financial Instrument Short Name (FISN), as OTC products are created. The ISIN, CFI and FISN are globally recognized and adopted ISO standards for identifying and classifying financial instruments.
More detailed information on the DSB and its development path can be found in the DSB section and related pages, as well as recent announcements at the ANNA website.
Established in 1992 by 22 founding numbering agencies, ANNA is the membership organization of national numbering agencies, which are operated by depositories, exchanges, government agencies, nationally central data vendors and other financial infrastructure organizations. ANNA also serves as the registration authority for the ISIN and FISN standards, under appointment by the International Organization for Standardization (ISO).
Under ANNA’s stewardship, the role of the ISIN in enabling global financial communications has been established worldwide. ISINs are issued today more than 200 jurisdictions worldwide. In addition, ANNA is developing the Derivatives Service Bureau (DSB), a fully automated global numbering agency to meet the operational and regulatory requirements of the over-the-counter derivatives markets. The number of national numbering agencies and nations working to establish national numbering agencies continues to grow each year, now surpassing 120 jurisdictions globally.
For information about ANNA, its members and activities, please visit anna-web.org.
Contact: Kathleen Hawk for the Derivatives Service Bureau email@example.com +1 347 256-3960