This year’s focus on cybersecurity and cloud resilience
London, 17th 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 timeline for the 2021 industry consultation related to the 2022 OTC ISIN and CFI service provision, highlighting in particular cybersecurity and cloud resilience.
This year’s consultation for the OTC ISIN and CFI service seeks to build on engagement in previous years, with industry collaboration at its core and a focus on data alignment and harmonisation. Prior consultations have been critical in shaping an operating model that helps bring efficiency and resiliency to the market, and dovetails with ongoing feedback from external stakeholders at each of the Product Committee and Technology Advisory Committee.
Core themes this year focus on providing updates for service enhancements sought last year, as well as risk analysis relating to the DSB’s cybersecurity and cloud resilience. The DSB values the feedback from the process which brings such important industry needs to the fore. This OTC ISIN and CFI consultation process will operate in parallel with the broader, ongoing global consultation focusing on the UPI fee model.
The OTC ISIN and CFI service consultation paper will shape the DSB activity for 2022, and will be published on 30th April. Industry will be able to respond until 5pm UTC on Monday 31st May, with the final results of the consultation delivered on Thursday 1st July. The full timeline is available on the DSB’s website.
Emma Kalliomaki, Managing Director of ANNA and the DSB, said, “We appreciate industry engagement with our ongoing consultations as we strive to consistently find new ways to increase efficiencies. Good governance is at the core of everything we do and stakeholder input is key to this. We value industry feedback to shape the best OTC ISIN solution for the market and want to provide industry advance notice of when involvement is needed as we know it is a busy year with UPI discussions ongoing as well.”
Malavika Solanki, a member of the DSB Management Team, said, “Industry feedback, be it bilaterally from users and trade associations, through the industry representation groups, and participation in the consultations is invaluable. Evidence of this lies in the new, lower-cost services introduced by the DSB as well as an increased focus on ensuring data consistency when creating and consuming OTC derivative reference data. With the UPI on the horizon, being able to hear potential and current users’ views in shaping the DSB’s strategy grows increasingly important.”
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 the DSB’s industry outreach and market education efforts, are aimed at ensuring the DSB can continue to best serve its users in a rapidly evolving landscape.
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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