The Derivatives Service Bureau Launches the Unique Product Identifier UPI Service
Supporting market readiness ahead of 2024 regulatory mandates
London, 16th October 2023 – The Derivatives Service Bureau (DSB), the global golden source of reference data for Over the Counter (OTC) derivatives, has today launched the Unique Product Identifier (UPI) Service, enabling firms to create and search for UPIs.
The UPI, an International Organization of Standardization standard (ISO 4914 UPI), has been developed to enable aggregation of OTC derivatives transactions reported to trade repositories so that authorities can monitor the build-up of systemic risk at a global level. The DSB is designated by the Financial Stability Board (FSB) as the sole UPI Service Provider to support the creation and distribution of UPIs globally.
UPI reporting starts in the major derivatives markets in 2024, with the United States’s rules applying from 29 January 2024, the EU EMIR Refit regulations from 29 April 2024, followed by UK EMIR Refit from 30 September 2024. Australia and Singapore have announced that UPI reporting will commence in October 2024, and the compliance start date proposed for Japan is April 2025. More G20 jurisdictions are expected to announce their UPI rules in the coming months.
Emma Kalliomaki, Managing Director of ANNA and the DSB, said: “I’m delighted to announce the go-live of the UPI Service today. This is a major milestone following long-term collaboration among authorities, industry and the DSB. In launching the UPI Service three months in advance of the first reporting compliance date, the DSB provides the market with time to incorporate the UPI into their reporting workflows.”
Users of the UPI Service can create UPIs for all products from the 16 October 2023. In addition, to complement user creation of UPIs, the DSB will start a pre-population process, assigning a UPI to each existing OTC International Securities Identification Number (ISIN) record, which will be completed in advance of 29 January 2024, the start of the US reporting requirement.
For streamlined user onboarding, the DSB has developed a self-service Client Onboarding and Support Platform (COSP), that enables users to subscribe to the UPI Service and guides them through the onboarding process. Via the COSP, users can manage connectivity to both the UPI test and live environments, sign the UPI subscription form, provide billing details, complete API certification (where relevant) and raise support tickets.
The DSB encourages users to utilise the UPI Service as early as possible to ensure readiness for the start of UPI reporting requirements.
Sign up to the DSB UPI Service and view UPI FAQs here: https://www.anna-dsb.com/upi/
Media contact for ANNA
The Derivatives Service Bureau (DSB) Ltd
The Derivatives Service Bureau, DSB, is the global golden source of reference data for Over the Counter (OTC) derivatives. Serving over 4,000 users spanning approximately 500 institutions, the DSB enables market participants to meet their regulatory reporting obligations to trade repositories, and for post- trade transparency and market abuse reporting related to MiFID II. A global utility with widespread industry representation, expertise and collaboration at its core, the DSB provides its reference data on a cost-recovery basis to increase transparency, efficiencies and interoperability through the use of standards. Users can access the DSB’s automated zero-touch technology platform through an open and easily accessible web interface that can handle multiple taxonomies of definitions and descriptive data for near real-time allocation.
Founded by the Association of National Numbering Agencies, ANNA, the DSB is the sole source of multiple ISO standards for OTC derivatives, including International Securities Identification Numbers (ISINs), Unique Product Identifiers (UPIs), Classification of Financial Instruments Codes (CFIs) and Financial Instrument Short Names (FISNs). In addition to its ISO mandates, the DSB has been nominated by the Financial Stability Board of the G20 to be the exclusive global operator of the UPI Service. This service will enable authorities to aggregate data on OTC derivatives transactions by product or by any UPI reference data element. 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