Updated, 12th January 2021: Application deadline extended until 5pm UTC on 10 February 2021. To view the Product Committee Charter and download the application form visit the DSB website https://www.anna-dsb.com/product-committee/. Applications should be submitted to email@example.com.
Reflecting broader geographic representation and new responsibilities
London, 25th November 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 today calling for new members for its Product Committee (PC) with an application closing date of 13th January 2021.
DSB PC existing membership includes representatives from the buy-side, sell-side, custodians, data vendors, trading venues and trade associations, and has always chosen members based on asset class and workflow expertise, as well as geographical representation across all user categories. The PC is particularly well represented from the North American and European regions, but seeks to expand its membership from the Middle East and Asia regions to further broaden geographic industry collaboration.
A key role of the PC’s work is to assist the DSB in specific industry developments in the OTC derivatives space. The PC Charter has been revised, expanding in remit to include the DSB’s work as the Unique Product Identifier (UPI) Service Provider. The PC will begin its third term in February 2021, which will run for two years.
Emma Kalliomaki, Managing Director of ANNA and the DSB, said, “We are extremely grateful to our current Product Committee members, who continue to give up their time and work hard to achieve results which benefit the industry as a whole. The PC has ensured OTC ISIN creation has been transparent and efficient for the global OTC derivatives market. Now, with the DSB’s responsibility for UPI assignment, we are calling for new members to reflect that expanding remit and continue with effective industry collaboration for the next two years.”
Joseph Berardo, Co-Chair of the DSB Product Committee and Director of Credit Product Management at Intercontinental Exchange/ NYSE, said, “To deliver on the promise of providing the industry with a global standard OTC derivatives instrument identifier, it requires a diverse group of financial industry experts that come together to identify and resolve the challenges in applying such standards. The DSB Product Committee has successfully met these challenges and will continue to do so as new implementation challenges arise.”
Harry McAllister, Co-chair of the DSB Product Committee, and Information Architect at BNP Paribas, said, “As the industry liaison group to the DSB, the PC is actively engaged with market participants and collaborates extensively with the industry to address data-related challenges such as those posed by changing regulatory requirements. The PC continues to support ISIN assignment for OTC derivative products, refining product template definitions and solving for additional use cases. We are excited to take on a new role in the governance structure of the UPI, and look forward to starting work on implementation.”
To view the Product Committee Charter and download the application form visit the DSB website https://www.anna-dsb.com/product-committee/. Interested OTC derivative users have until 13th January 2021 to put in their applications, with PC membership being announced early February 2021.
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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.