London, 1st May 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 more detail on the 2020 Industry Consultation, highlighting the needs of new and existing users.
This year’s consultation process includes questions about Functionality and Data Enhancement as well as a proposal related to the DSB’s dispute resolution process. The DSB is consulting on whether industry would like a more structured format of notifications and updates, to help drive further functional efficiencies. The consultation will examine the advantages, including for end product participants and technical specialists, of being able to consume data into users’ own automated processes; enabling AI driven robotic process automation, for example.
Additionally, this year’s consultation will examine whether to create a new DSB ‘search only’ programmatic access for OTC ISIN data. A further Functionality topic in the consultation relates to how users can access OTC ISIN data. At present, users can download all historical data through end of day files. The consultation will also examine whether there is a broad call and need for ‘data snapshots’ for specific date ranges, in particular to ease new DSB users’ access to OTC ISIN data.
Concerning Data Enhancement, the consultation this year will ask whether the DSB should analyse enhancement of the OTC FISN, to reflect the industry’s needs based on lessons learned since the implementation of MiFID II more than two years ago.
Lastly, the consultation will also touch on a proposal to amend the DSB Governance Policy, in particular an amendment to the disputes resolution process, to reinforce parity and equal treatment of users. The feedback on this item will dovetail into the annual review of the DSB Access and Usage Agreement scheduled for later in the year.
This year’s consultation paper was published on Thursday 30th April, and industry will have until 5pm UTC on 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, “We are delighted by the engagement we receive from industry through the annual consultation process. Given the current unprecedented global situation, the aim of this streamlined consultation is to drive efficiency and focus on obtaining feedback on user requests to expand functionality and further data enhancements. We would encourage any user to respond as we’d very much like to receive broad feedback on the proposals.”
Malavika Solanki, a member of the DSB Management Team, said, “We continue to collaborate with industry to ensure all views and requirements are brought into the consultation. This year’s consultation illustrates that new users – whose numbers are growing – as well as existing users, are engaging fully with the process. It is essential that we continue to garner feedback through consultations, to maintain broad representation and we look forward to working closely with a wide range of industry participants through the existing DSB industry forums and other channels.”
As with prior years, the purpose of the consultation is to 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 the website