London, 21st 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, today announced that it has been awarded “Best Sell-Side Regulatory Data Solution” at the RegTech Insight Awards 2020.
Now used in 33 countries, the DSB was founded following the European regulatory mandate in 2016 for the ISIN to be used for uniquely identifying and reporting OTC derivatives under MiFID II. The sell-side have created half of all OTC derivatives reference data records and continue to be drivers of ongoing service evolution, with over 200 institutions also having searched for data. In 2019 the sell-side also asked the DSB to further investigate a range of enhancements to deliver broader data efficiencies in a cost-efficient manner.
Emma Kalliomaki, Managing Director of ANNA and the DSB, said, “The DSB is delighted to be recognised by A-Team and the industry for its Sell-Side Regulatory Data Solution. The implementation of ISIN, FISN and CFI codes for OTC derivatives has been achieved through ongoing, collaborative work with market participants, regulators and other standards bodies, and we look forward to continuing these strong relationships going forward as we develop the DSB’s offering further.”
Malavika Solanki, a member of the DSB Management Team, said, “The DSB was originally intended for use with reference to standardised OTC derivatives, however, at industry’s request, the DSB expanded its product offering by almost a third to assist with demand to support a broader spectrum – particularly for instruments and underlying reference data elements traded mostly by banks and asset managers. We have been working with industry over the past three years to help them address regulatory challenges and compliance for OTC Derivatives, and will continue to do so in the future. Data alignment is part of that, and critical for industry efficiency, and it is vital that we continue to collaborate on this important issue.”
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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.
The DSB has also been designated as the sole provider of the Unique Product Identifier (UPI) by the Financial Stability Board (FSB) and is working with stakeholders to make the UPI globally available.
Serving almost 500 institutions (70% free of cost), 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