London, 11 November 2025: We are delighted to announce that the Derivatives Service Bureau (DSB) has won ‘Outstanding Regulatory Initiative of the Year, Capital Markets’ at the Regulation Asia Awards for Excellence 2025. The awards celebrate firms that are at the forefront of supporting APAC’s evolving regulatory landscape.
The DSB has been recognised for the ongoing delivery of the global Unique Product Identifier (UPI) Service for OTC derivatives. The UPI Service directly addresses a long-standing challenge of transparency in OTC derivatives markets that contributed to the financial crisis and supports post-crisis regulatory reforms. By uniquely identifying an OTC derivative at the product level, the UPI enables authorities to aggregate OTC derivatives transactions and monitor the build-up of systemic risk.
Rollout of the UPI Service across G20 jurisdictions began in 2024 and over the last two years, the UPI Service has played a pivotal role in advancing the harmonisation of regulatory reporting standards on a global scale. The DSB has supported the onboarding of ten G20 jurisdictions, including five within the Asia-Pacific region, namely Australia, Singapore, Japan, Hong Kong and Korea, where authorities have mandated UPI reporting. The DSB has worked with authorities and local market infrastructures to prepare market participants with their UPI integration and onboarding requirements.
Emma Kalliomaki, Managing Director of ANNA and the DSB, said: “The DSB is proud to be recognised at the Regulation Asia Awards for Excellence 2025 for its continued delivery of the UPI Service. This achievement reflects our unwavering commitment in driving global harmonisation of ISO standards, advancing data quality and consistency, and collaborating with stakeholders to evolve in line with the needs of the global market.”
As a cost recovery industry utility, the DSB is now delivering a key regulatory service to over 450 fee-paying organisations and 1,700 free user organisations across 40 countries. In the APAC region alone, the DSB supports 68 fee-paying entities. These include Banks, Trade Execution Platforms, Asset Management firms, Clearing Houses, Brokerages, Trade Repositories and Data Management Providers. For more information about the UPI Service, please visit the DSB website: https://cosp.anna-dsb.com/home
ENDS
Media contacts
Carmen Rey, Amanda O’Sullivan – Streets Consulting
carmen.rey@streetsconsulting.com / amanda.osullivan@streetsconsulting.com
+44 (0)207073 2649
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 1,900 organisations spanning over 40 jurisdictions, 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.
About ANNA
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.
