DSB to create Technology Roadmap to evolve technology
Creation of new Technology Strategy Subcommittee for OTC Derivative Identifiers based on industry feedback
London, 12 September 2018 – In response to feedback from its most recent industry consultation, the Derivatives Service Bureau (DSB) today announced plans for the creation of a strategic technology roadmap for OTC derivative identifiers.
The DSB is a fully automated generator of International Securities Identification Numbers (ISINs) for OTC derivatives. The DSB is the first numbering agency designed to operate on a global basis to meet the particular requirements of the derivatives markets including near real-time allocation of ISINs.
The newly created Strategy Subcommittee of the DSB Technology Advisory Committee was developed in response to industry feedback, and will take forward the technology-related work of the original ISO standards working group (“SG2”), completed in May 2016 under the co-convenorships of ANNA and ISDA.
As part of the DSB’s ongoing efforts to collaborate with the industry, the Subcommittee will follow an open and inclusive process with a diverse stakeholder base, and will take into consideration other relevant regulatory and industry initiatives that the DSB should aim to be consistent with. Further details of the Strategy Subcommittee’s purpose are available in its Charter here.
“The DSB looks forward to creating a robust technology roadmap to service the industry’s evolving needs around OTC derivatives identifiers,” said Marc Honegger, TAC Sponsor and board member of the DSB. “Having successfully enabled OTC derivative users to meet their MiFID II reporting requirements in 2018, we now look forward to working with industry in 2019 to develop the DSB strategic technology roadmap.”
Membership of the TAC Subcommittee will be announced on 11 October 2018, with the first meeting held on 8 November. In the interest of transparency, records of the TAC Strategy Subcommittee will be made available to the public on the DSB’s website.
“The DSB’s best-in-class technology is already proven within the European regulatory environment,” said Sassan Danesh, member of the DSB management team and the Designated DSB Officer of the TAC. “We are delighted to extend the benefits of this state-of-the-art technology to additional use cases by addressing the wider recommendations of the ISO SG2 Study Group.”
The kick-off meeting agenda, the full list of TAC Strategy Subcommittee participants, and records of meetings will be available at the DSB website.
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About The Derivatives Service Bureau (DSB) Ltd
Headquartered in London, the DSB is a legal subsidiary of the Association of National Numbering Agencies. 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 recognised and adopted ISO standards for identifying and classifying financial instruments.
Please visit the DSB website, anna-dsb.com for more information about the DSB’s role and activities in meeting the identification requirements of financial markets.
Established in 1992 by 22 founding numbering agencies, ANNA is the membership organisation of national numbering agencies, which are operated by depositories, exchanges, government agencies, nationally central data vendors and other financial infrastructure organisations. 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.