The Derivatives Service Bureau opens its 2019 Consultation
To encourage industry feedback and participation in setting the DSB’s roadmap
London, 9 May 2019 – The Derivatives Service Bureau (DSB), 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 it has opened its 2019 consultation.
The consultation is seeking responses from both direct and indirect users of the DSB on a series of questions regarding the DSB’s service and functionality. The consultation will take place in two parts with the purpose of the first consultation allowing the DSB to understand the items which are deemed most valuable for further evaluation in the second phase. The key themes this year will focus on soliciting industry feedback on aspects around operations such as data submission enhancements, services (e.g. data flow rationalisation), technical (e.g. infrastructure and workflows) and legal aspects including feedback from the fee survey and/or from the user agreement forum.
Serving over 420 institutions, the DSB launched its production service with 83 product definition templates available for use, expanded to 87 product definitions by year ending 2018, added a further 6 templates in Q1 2019 and has received Product Committee approval for the introduction of at least 3 additional instruments in Q3 2019. Such developments allow the DSB to remain aligned with product evolution in the OTC derivative markets – with expansion at direct user request.
Emma Kalliomaki, Managing Director of ANNA and the DSB, said, “It is critical we hear from our broad spectrum of users and as such we are asking as many organisations to get involved in the consultation process as possible – from both direct and indirect users. We would encourage everyone to make their voices heard and help frame the service provision for the coming year.”
Malavika Solanki, a member of the DSB Management Team, said, “The growing use of the DSB for purposes other than MiFID II has allowed the DSB to work with industry and provide a golden source for OTC derivative ISINs, CFI codes and other attributes contained in the OTC ISIN record. User feedback – through the consultation, the committees and other forums – has resulted in the provision of a variety of enhancements in the past year. Industry feedback has played a vital role in setting the pace for what the DSB should focus on and in helping to shape the DSB agenda.”
The consultation form is available on https://www.anna-dsb.com/download/2020-industry-consultation-paper-1/ and will run until 5pm UTC on the 5th June 2019, with feedback to be supplied to firstname.lastname@example.org.
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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.