DSB invites industry to share feedback on OTC derivative identifier services
Annual consultation on OTC ISIN, UPI and CFI Services includes review of the cost allocation model
London, 27 March 2025 – The Derivatives Service Bureau (DSB), the golden source of reference data for Over-the-Counter (OTC) derivatives, has released the schedule for the 2025 industry consultation relating to the OTC International Securities Identification Number (ISIN), Unique Product Identifier (UPI) and Classification Financial Instrument (CFI) service provisions. Areas of focus are the DSB cost recovery and fair allocation of cost principles.
Since the launch of the UPI Service, the DSB userbase has more than doubled with the DSB now serving over 1,900 organisations, spanning over 40 jurisdictions. The diversity of this userbase means that feedback from the various jurisdictions, organisation types and sizes is fundamental to ensuring the continued development of the DSB’s services aligns with the needs of stakeholders.
As with previous years, timings are being communicated to give market participants advance notice for providing a response. The consultation paper will be published on 30 April 2025, and industry will have until 30 May 2025 to submit responses. The Final Report will be published on 17 July 2025. The full timeline, which also includes the subsequent consultation on the subscription terms, can be found on the DSB website.
This year, key topics industry will be invited to provide input include:
- Fair apportionment of costs across the OTC ISIN and UPI service provisions
- User type functionality, including the Intermediary User Type
- Access to data via the File Download functionality
- Treatment of Acceptable Usage Policy breaches
Emma Kalliomaki, Managing Director of ANNA and the DSB, said: “This year’s industry consultation fulfils the DSB commitment to consult on key aspects underlying the fee model two years after launch of the UPI Service. Recognising that the DSB operates within an evolving landscape, we value the contributions and recommendations made by the DSB industry representation groups and encourage further input from the broad and varied user community we serve.”
For more information about how to get involved with the consultation process, please contact us via industry_consultation@anna-dsb.com.
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 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.
