London, 8th December, 2021 – The Derivatives Service Bureau, 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 it has been awarded ‘Best Standards Solution for Data Management’ at the Data Management Insight Awards 2021.
The awards are designed to recognise providers who are finding creative solutions to help with data challenges that span a wide range of market and regulatory requirements. The awards were overseen by the Data Management Insight Awards Advisory Board, who have helped shape the categories and review the winners in collaboration with the A-Team Insight editors.
Today, the DSB has over 4,100 users across 600+ firms, spanning every category of institution type as they make the OTC ISIN available for uniquely identifying and reporting OTC derivatives under MiFID II, as well as serving EMIR and MIFIR reporting needs. The DSB has worked with industry to define, publish and maintain a range of standardised reference data for OTC derivatives including classification codes, instrument short names, and identifiers, with a focus on aiding data consistency, data alignment, and ease of access.
Following designation by the FSB as the sole provider for the Unique Product Identifier, (UPI), as well as the UPI Reference Data Library, the DSB is collaborating with market participants and authorities via industry representation groups to design efficient UPI product definitions and workflows. The DSB also continues to consult with industry on matters relating to the target operating model, invoicing approach, contract duration, legal terms and conditions, onboarding processes, with the current consultation due to close on 19th January 2022.
“It has been fantastic to see such a high calibre of entries in our Data Management Insight Awards 2021. There are some really deserving winners and we congratulate The Derivatives Service Bureau on winning Best Standards Solution for Data Management and for their contribution to the financial data management industry,” said Angela Wilbraham, CEO of A-Team Group, which hosts the Data Management Insight Awards.”
Emma Kalliomaki, Managing Director of ANNA and the DSB, said, “We are delighted to receive recognition from Data Management Insight and would like to thank the industry who continue to collaborate with the DSB to make data standards operate best for the market. The DSB team has worked tirelessly in the past year to deliver changes that support both market practitioners’ and regulatory goals, and we share this award with all involved stakeholders.”
Malavika Solanki, a member of the DSB Management Team, said, “We are happy to receive this award. We want to share it with all those who have collaborated with the DSB, with our partners in industry as it has been a team effort to provide the best data standards to help support market practitioners’ regulatory reporting needs. Thank you to all those involved over the past year and years before, both within the DSB and more broadly in industry, and thank you to Data Management Insight and those at the A-Team for this award which we will treasure.”
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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 anna-web.org.