London, 4th March 2020 – 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 2020 industry consultation timeline, bringing publication of annual user fees forward and moving to a single in-depth consultation.
User fees will now be published in October, rather than December of each year, in response to industry’s request to bring the annual fee publication date forward. This enhancement is supported by the revised consultation approach, which in turn feeds key components of the fee model variables. To streamline the consultation process the DSB will publish a single consultation paper containing more comprehensive information for users to consider; previous years have contained two rounds of consultation.
This year’s consultation paper will be published on Thursday 30th April, and industry will have until Monday 1st June to respond, with the final results of the consultation delivered on Wednesday 1st July. The full timeline is available on the DSB’s website.
Emma Kalliomaki, Managing Director of ANNA and the DSB, said, “At the heart of the DSB is the underlying principle to ensure the DSB works for the industry and fulfils market needs. We heard from industry that it would help enormously if we could bring forward the date of the user fee publication and streamlining the consultation process has helped us achieve this whilst also driving broader efficiencies.”
The focus of the 2020 consultation will be based on queries and feedback received from industry since the DSB’s consultation in 2019, as well as the outcome of any completed research and analysis activities undertaken as a result of the 2019 consultation. The DSB will utilise targeted consultations with specific focus throughout the year, if required, to address any regulatory changes or industry requirements that fall outside the larger annual consultation process.
Malavika Solanki, a member of the DSB Management Team, said, “As with prior years, the purpose of consultation is to obtain views from industry in order to shape the service and ensure that the DSB focuses its attention on the areas users consider most helpful. The consultation approach, together with our industry outreach and market education efforts are aimed at ensuring the DSB can continue to best serve its users in a rapidly evolving landscape.”
For more information about how to get involved, please contact us here.
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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.