The Derivatives Service Bureau expands Technology Advisory Committee

Reflecting the evolving role around the Unique Product Identifier (UPI)

London, 28th October 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, is delighted to announce that its Technology Advisory Committee (TAC) has expanded to reflect broad geographic reach following the Financial Stability Board’s (FSB) designation of the DSB as the Unique Product Identifier (UPI) Service Provider.

A new two-year term of the TAC begins today. TAC membership has been expanded to reflect the geographic diversity that will underpin the global UPI implementation effort. The TAC now has six members based in Asia, one in the MENA region, ten in North America, and thirteen in Europe. TAC membership is comprised of representatives from across the sell-side, buy-side, data vendors, execution platforms, market infrastructure providers, trade associations and other industry experts.

The TAC Chair also continues to be drawn from industry, underpinning a core principle of the DSB to remain very much industry driven. The outgoing chair, David Broadway, has led the industry forum through industry’s implementation efforts, and subsequent rationalization of workflows, as well as the onboarding of a Chief Information Security Officer at the DSB; enabling the new TAC Chair, Chris Pulsifer Software Development Manager from Bloomberg LP, to build on these significant achievements.

A key role of the TAC’s work is now to assist the DSB in specific developments, such as supporting UPI implementation planning, as well as continue to focus on delivering on a range of cybersecurity, business continuity and infrastructure review related matters, in conjunction with feedback from the broader industry community.

Marc Honegger, Member of the DSB Board and TAC Sponsor, said, “We thank David Broadway for his stewardship of the TAC’s first term and are delighted to have Chris Pulsifer join us as the new TAC Chair. He is well placed to lead the TAC given his active participation throughout the first term, as well as bringing extensive industry experience. The TAC achieves its success because it is full of highly experienced experts who bring a wealth of knowledge to discussions, and the additional expansion exemplifies the global nature of the institutions that are working with and using the DSB.”

Andy Hughes, DSB Technology Manager, said, “The TAC spends much time focusing on resilience for DSB users and provides critical expertise to ensure there is continuity across all DSB operations. The expanded team will continue to assist the DSB in its consideration of high level functional and work-flow requirements, and will be particularly focused on the UPI in the coming year. The UPI and associated reference data are also being codified in the form of an ISO standard which is now under development, and the TAC will focus on the workflows needed to request and create UPIs, as well as searching within the UPI Reference Data Library.”

Now used in 33 countries, today, the DSB has over 4,100 users across 470 firms, spanning every category of institution from the buy-side and sell-side through to trading venues, custodians, wealth managers, data vendors and more. TAC minutes and recordings are placed in the public domain, on the DSB website, with observers welcome to listen to live meetings by registering at: DSB.TAC@anna-dsb.com

 

ENDS

Media contact for ANNA
Lindsay Clarke
Streets Consulting
+44 (0)20 7959 2235
lindsay.clarke@streetsconsulting.com

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.

About ANNA

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

 

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