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Overview 

DSB Users and other industry participants are now invited to comment on the first consultation paper seeking to obtain feedback on the assumptions and proposals that will underpin the fee model for the Unique Product Identifier (UPI).

The UPI is expected to become globally reportable to Trade Repositories from late 2022 onwards, and as such the fee model principles set out in this first of two consultation papers, will be key in determining the path forward.

Respondents can access the consultation paper using the button on the right, and also register to participate in explanatory webinars where they will also have an opportunity to pose questions pertaining to the material in the consultation paper.  Registration links are in the Consultation Timeline table below.

As announced in December 2020, the deadline for feedback is 5pm UTC on Friday 5th March 2021, with respondents able to seek anonymity when submitting their response. Responses should be directed to industry_consultation@anna-dsb.com.

Structure of the paper 

This consultation paper commences by providing an overview of key facts about the UPI including purpose, timelines, and governance in section 3. The paper then sets out key assumptions in section 4 which include expectations of UPI adoption timelines, UPI creation estimates, expectations of alignment with other international data standards that are applicable to OTC derivatives, implementation efficiency drivers, and last but not least next steps relating to ongoing work by the DSB Product Committee and DSB Technology Advisory Committee.

The Consultation Considerations element of this paper, set out on section 5, outlines the questions being asked, supported by analytical context and where the proposed next steps have a cost impact, the key cost drivers have been detailed to allow industry to make a determination about whether they concur with the assumptions and principles set out in the document, or propose alternate evidence driven considerations that they believe should be utilized instead and/or alongside the proposals set out in this paper. Respondents also can provide any general comments in the final section of the response form provided at the end of this paper.

Consultation Timeline

MilestoneDate
Publication of DSB UPI Consultation Paper 1 (CP1) Mon 11 Jan 2021
Explanatory Webinar 1 (for attendees in Asia + Australia) <Register here> Tue 2 Feb 2021
Explanatory Webinar 2 (for attendees in the ROW) <Register here> Wed 3 Feb 2021
Industry feedback deadline (for CP1)Fri 5 Mar 2021
Publication of DSB UPI Consultation Paper 2 (CP2)Mon 10 May 2021
Industry feedback deadline (for CP2)Fri 9 Jul 2021
Publication of Final DSB UPI Consultation PaperMon 27 Sep 2021