Derivatives Service Bureau 2019 Consultation Milestones
User Survey and Agreement Forum for continued Broad Industry Collaboration
London, 4th March 2019 – The Derivatives Service Bureau, founded by the Association of National Numbering Agencies (ANNA) to facilitate the allocation and maintenance of International Securities Identification Numbers (ISINs), Classification of Financial Instrument codes (CFIs) and Financial Instrument Short Names (FISNs), for OTC derivatives, has today announced that it is conducting a User Survey as well as establishing a group-wide Agreement Forum as part of 2019 industry consultation milestones.
Committed to the use of international standards to make the OTC derivatives market a more stable and efficient environment, both initiatives have been set up to ensure continued extensive industry collaboration and representation with the DSB, including impact on user agreements, services and fee models.
As part of the DSB milestones announced today, the DSB is undertaking a User Survey on the existing fee model timeline and annual review cycle. The User Survey is open until 5pm UTC on Friday 15th March 2019 and has been designed to allow DSB users a format for early feedback that will feed into the annual consultation process being launched in the coming months.
The DSB is committed to continue working with industry to determine a timeline for review of fees, which will enable industry to plan ahead and achieve the best value for money. Reviewing contracts for group entities currently with multiple licences, while maintaining the DSB values of representation on a fair and equitable basis within the OTC ISIN, CFI and FISN user community is a priority for the DSB. To encourage industry discussion and feedback on this topic, the DSB will be establishing a group-wide Agreement Forum to discuss possible ways to enhance the User Fee model.
Emma Kalliomaki, Managing Director of ANNA and the DSB, said, “Putting industry needs first is at the heart of everything we do, and we’re always looking for ways to increase efficiencies in the process of ISIN allocation as well as in the DSB fee model structure and user agreement. Motivated to bring greater transparency and integration to the OTC derivatives market, we’re launching these two fresh initiatives for industry to lead the evolution of the user fee model as we navigate numbering of OTC derivatives together in the year ahead.”
Malavika Solanki, a member of the DSB Management Team, said, “The DSB offers a reliable, robust automated service for providing ISINs, both agile and flexible to adapt to industry and regulatory requirements. This is an exciting year for the industry as it continues to refine and improve its use of ISINs. At the core of what we do is the drive to build a community of ISIN and CFI users, which in turn provides more support to the wider OTC derivatives industry.”
The Derivatives Service Bureau (DSB) Ltd
The Derivatives Service Bureau is a global numbering agency for OTC derivatives serving the needs of market participants through the allocation of International Securities Identification Numbers (ISINs), the Classification of Financial Instruments (CFI) and Financial Instrument Short Name (FISN), all globally recognised and adopted ISO standards for identifying, classifying and describing financial instruments. With an underlying technology platform that is built to support multiple taxonomies of definitions and descriptive data, as well as numbering in near-real-time, the DSB is motivated to bring greater transparency and integration within the OTC derivatives market, enabling institutional investors to standardise data and better control operational risk. Users can access the DSB through a web interface, by accessing data in daily update files or by direct integration to front-office systems for trading and order management.
The DSB is a legal subsidiary of the Association of National Numbering Agencies (ANNA). With widespread industry representation, expertise and collaboration at its core, the DSB’s history, pedigree and expertise are rooted in ANNA, with its broad experience and overview of handling both on and off-exchange ISINs for all asset classes. If you would like to use the Derivatives Service Bureau please visit the DSB website
The Association of National Numbering Agencies (ANNA) is a global member association seeking to foster standardisation within the financial industry by upholding the International Organization for Standardization (ISO) principles and by promoting ISIN, FISN and CFI codes for financial instruments. This is achieved through ongoing, collaborative work with market participants, regulators and other standards bodies.
Under ANNA’s stewardship, the role of the ISIN in enabling global financial communications has been established worldwide. Founded in 1992 by 22 numbering agencies, today ANNA’s membership continues to grow, with more than 120 global members and partners allocating ISIN, FISN and CFI codes on behalf of their local jurisdictions. By putting in place rigorous governance around the development, allocation and sharing of ISIN, FISN and CFI codes, ANNA helps facilitate open, transparent markets diminishing barriers to access, while protecting the integrity of the standards. As a result, ISIN has become the recognised global standard for unique identification for all types of financial and referential instruments, helping to connect and protect global markets.
In addition, ANNA has established the Derivatives Service Bureau (DSB), a fully automated global numbering agency to meet the specific operational and regulatory requirements of the over-the-counter derivatives markets.
For information about ANNA, its members and activities, please visit anna-web.org.