The Derivatives Service Bureau reports results from first 2019 industry consultation
Findings coincide with the start of the second consultation
London, 5 July 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 the results from its first consultation of 2019, and the opening of its second consultation aimed to shape the DSB service provision for 2020.
The first consultation closed on the 5th June 2019, and sought responses on a series of questions regarding the DSB’s service and functionality from both direct and indirect users of the DSB. A total of 15 responses were received representing 19 institutions and included responses from 6 trade associations which is double the number from the previous consultation.
Of the 25 user driven questions put forward to industry, 5 were dismissed as not of interest to broader industry participants, and 10 are proposed to be taken forward by the DSB on a “business as usual” basis, with no impact on current costs. Included in those to be taken forward on a business as usual basis are the grouping of underlying data sources used by the DSB to be expanded, as well as highlighting specific aspects that they wish to see the DSB focus on as part of its ongoing data review activity.
A further 10 questions from the first consultation require further industry feedback and investigation and will be included on the second consultation which will run until the 29th July 2019. Some of these items include providing support for DSB/MiFID II taxonomy mapping, leveraging the ISIN-LEI service to provide the LEI and other supplemental data, and a focus on cybersecurity.
Emma Kalliomaki, Managing Director of ANNA and the DSB, said, “We are grateful for the industry engagement and responses from the first consultation, which were considered and thoughtful. As part of this feedback, we are focusing on creating a line of segmentation between what we can bring forward as “business as usual” with no cost impact to users, and other, new areas of work at the direct request of the industry.”
Malavika Solanki, a member of the DSB Management Team, said, “The ideas put forward in the first consultation were the direct result of the relationships and on-going dialogue the DSB has had with the industry during the first part of 2019, and we look forward to continuing to build on those relationships moving into the second half of the year. As a result of this collaborative approach, the DSB is not only looking at how to improve its current offering, but also at what new use cases it can bring forward such as providing additional data to support OTC derivative workflows.”
The second consultation form is available on https://www.anna-dsb.com/download/2020-industry-consultation-paper-2/ and will run until 5pm UTC on the 29th July 2019, with feedback to be supplied to email@example.com.
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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.