The Derivatives Service Bureau Publishes The Industry Consultation Final Report for OTC Derivatives
Ongoing development of the service in the months ahead
London, 16 July 2024 – The Derivatives Service Bureau (DSB), the golden global source of reference data for Over-the-Counter (OTC) derivatives, has published the 2024 Industry Consultation Final Report today relating to the OTC International Securities Identification Number (ISIN), the Classification Financial Instrument code (CFI) and the UPI service provision.
The industry consultation process complements the ongoing work of the DSB’s industry representation groups (IRG) and enables stakeholders and market participants to contribute towards the evolution of the DSB service by providing feedback on specific topics. For the first time, this year’s consultation includes the new UPI Service, which is particularly pertinent as G20 regulatory reporting mandates take effect throughout 2024 and 2025.
The Final Report summarises the feedback from industry and the IRGs on topics including proposed enhancements for automation of existing processes and tooling with regards to Data Leakage Prevention, Data Classification and Data Labelling and moving forward with a combined Governance, Risk & Compliance and Third-party Risk Management tool. The Final Report also provides insight on the next actions for creation of an equitable set of terms and fee model for intermediaries for all User Types and changes regarding the provision of the UPI as part of the OTC ISIN Service. Additionally, the next steps are outlined on the TOTV Service as a part of cost recovery, and the continuation of the Global Agile Architecture programme of work.
Emma Kalliomaki, Managing Director of ANNA and the DSB, said: “We would like to extend our gratitude to the industry for their participation in this year’s consultation. Stakeholder feedback is vital in understanding the industry’s drive for change across functionality, user types, fair cost apportionment, and the overall delivery of services that best serve evolving requirements”.
You can read the Final Report on the DSB website: https://www.anna-dsb.com/download/dsb-2025-final-consultation-report/
For more information about how to get involved with the consultation process and industry engagement, please contact the DSB via industry_consultation@anna-dsb.com.
All other questions can be directed to secretariat@anna-dsb.com
ENDS
Media contacts for the DSB
Carmen Rey, Amanda O’Sullivan
Streets Consulting
+44 (0)20 7073 2649
carmen.rey@streetsconsulting.com / amanda.osullivan@streetsconsulting.com
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.
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.
