The Derivatives Service Bureau Announces Timeline for 2023 OTC ISIN Consultation
DSB prepares industry to shape OTC ISIN services in accordance with market and regulatory developments for 2024
London, 27 March 2023 – The Derivatives Service Bureau (DSB), the golden global source of reference data for Over-the-Counter (OTC) derivatives, has announced the timeline for the 2023 industry consultation related to the 2024 OTC International Securities Identification Number (ISIN) and Classification Financial Instrument code (CFI) service provision.
The annual industry consultation is crucial to shaping the DSB’s service in accordance with market participant requirements. Timings are being communicated in advance to ensure the industry has sufficient notice to plan and align resources for participation.
The consultation paper will be published on 28 April 2023 , and the industry will have until 31 May 2023 to respond . The Final Report will be published on 30 June 2023. The full timeline can be found on the DSB website.
In 2022, the DSB Main Terms and Policies, collectively known as the ‘Agreement’, were updated to incorporate provisions for the UPI Service such that a Common Agreement was maintained. As the UPI Service will be launched into UAT on 17 April 2023 and into Production on 16 October 2023, requiring the final legal documentation to be available, the next review of the Agreement will take place in 2024.
Emma Kalliomaki, Managing Director of ANNA and the DSB, said, “We are grateful to all stakeholders for their continued engagement and collaboration to shape the DSB Services. Given the varying demands on firms’ resources due to market and regulatory developments, providing advance notice will enable firms to provide input.”
In accordance with previous years, the consultation aims to ensure that the DSB develops the aspects of the service that users find the most valuable. The approach, alongside the DSB’s outreach initiatives and market education efforts, are designed to ensure that the DSB can effectively serve its users and adapt to a constantly evolving market. The DSB continues to work to find further efficiencies and alignment of market practices through the work in the DSB Product Committee and Technology Advisory Committee.
For more information about how to get involved with the consultation process, please contact us via firstname.lastname@example.org.
All other questions can be directed to email@example.com.
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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.