With UPI reporting to launch in APAC region, DSB reveals data on industry readiness
UPI reporting in Australia and Singapore commences 21 October 2024
London, 17 October 2024 – The Derivatives Service Bureau (DSB), the global golden source of reference data for OTC derivatives, today released data indicating industry readiness for the start of UPI (Unique Product Identifier) reporting in Australia and Singapore on 21 October 2024.
Whilst there is a global aim to monitor systemic risk across the OTC derivatives markets and achieve data harmonisation, each region has approached the implementation of the UPI based on the needs of their market and established their own reporting structure and format. The Australian Securities Investment Commission (ASIC) and The Monetary Authority of Singapore (MAS) now follow the US, EU and UK authorities in implementing mandatory UPI reporting this month. Whilst many multi-jurisdictional organisations with US, EU and/or UK reporting requirements have onboarded already with the DSB, locally based APAC organisations have been considering connectivity and functionality requirements for the first time.
The DSB’s user onboarding data shows that over the last few months the number of entities headquartered in the APAC region has increased steadily to 46 organisations with 17 headquartered in Australia and 18 in Singapore across a range of User Types. APAC representation is expected to continue to grow in 2025 as the Japanese mandate draws nearer in April, and with the Hong Kong go-live in September 2025.
To date, over 410 firms have subscribed to the UPI Service on a fee-paying basis, including 159 programmatic users. Quarterly updates on UPI user numbers are published on the DSB’s website.
In relation to UPI volumes, UPI generation has increased over the last few weeks correlating with the recent UK mandate coming into effect and the upcoming Australia and Singapore mandates. A similar trend was seen in advance of the US and EU mandates coming into effect. There are approximately 1.3 million UPIs with an average of 9,400 new codes generated per week, with one recent week seeing a spike of over 18,500 UPIs created. Identifier metrics are also published on the DSB website.
Implementation of the UPI realises the reform agenda of the G20 to bring greater alignment, efficiency, and resilience to the interconnected, global derivatives markets following the financial crisis. The ongoing focus on advancing OTC derivatives regulatory reform continues with Japan implementing UPI reporting on 7 April 2025, Canada on 25 July 2025 and Hong Kong on 29 September 2025. Korea and Saudi Arabia are also advancing preparations for the roll out of mandatory UPI reporting.
ENDS
Media contacts for The DSB
Amanda O’Sullivan, Carmen Rey
Streets Consulting
amanda.osullivan@streetsconsulting.com / carmen.rey@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
