CFI Service Implementation

Release Milestones and Documentation

Milestone	Date	Status	Notification	Templates (Github)	User Documents
Draft Versions	27 September 2024	Completed	Link	Link	Product Definitions Below
UAT	26 October 2024	Completed	Link	Link	Product Definitions Below
UAT Patch	12 April 2025	Pending	Link	Pending	Pending
UAT2	24 May 2025	Pending	Pending	Pending	Pending
PROD	25 May 2025	Pending	Pending	Pending	Pending

Change Details

Show background information about this change

Background:

The DSB evaluated its approach for transition to CFI 2019-21 based on the expectation that the CFI Maintenance Agency could make annual revisions to the CFI standard.

The original plan, which included updating existing OTC ISIN and UPI records with the latest CFI versions, required an 18-month delivery period for each revision. To reduce the timeline, valuable stakeholder feedback was considered, and a new approach has been approved by the DSB Board and communicated to the Regulatory Oversight Committee (ROC), the DSB Product Committee and the DSB Technology Advisory Committee.

Change Scope:

The new CFI Service will separate the CFI code derivation from the core identifier system, simplifying the maintenance required when adopting a new revision of the CFI standard. The CFI Service will be integrated with the OTC ISIN and UPI Services to ensure minimal impact to users.

Additionally:  

A CFI component will be appended to the returned message or displayed on the GUI
- DSB supported CFI version(s) will be included in the CFI component
CFI versions will be updated independently of the OTC ISIN and UPI Services.
Users will receive the DSB supported CFI version(s) along with the CFI attributes, names and values, when creating or retrieving an OTC ISIN or UPI.
The returned CFI version(s) will be clearly labelled in a structured response with a status indicator.

Impact to Product Templates:

Record

All Record templates will be updated to contain a new Optional CFI component that will be added in the Derived section.

Request

There will be no generic CFI changes to Request templates, however some updates will be required, for example:
- New CFI 2021 codes that have no equivalence in CFI 2015 will be added in Request enumerations
  - e.g. Cap/Floor values for Valuation method or trigger in Rates Options.
Updated mappings for an ISO 20022 input
- e.g. Cash/Physical updated to Deliverable/Non-deliverable for Delivery Type in CFI 2021 for Rates Swaps:

ISO values will stay CASH/PHYS, but their display values will be updated in Request to contain the revised 2021 values.

Draft Template Versions:

The DSB will make an initial draft of the JSON templates available to users. Please note, the draft versions of the JSON templates released may be subject to change prior to the UAT release.

Please visit the release page on the DSB website for information about this release including milestones and links to JSON templates – CFI Service Implementation – DSB (anna-dsb.com)

DSB ID	Title	Type	Documentation
DSB-4163	CRF DSB-4163 CFI Service Array Structure_Publication	Product Definition	Link
DSB-4241	CRF DSB-4241 CFI Service – Rates Swaps templates updates	Product Definition	Link
DSB-4268	CRF DSB-4268 CFI Service – FX Swaps and Options templates updates	Product Definition	Link
DSB-2959	CRF DSB-2959 OTC ISIN RATES OPTN Correct the generation of the CFI Code in Swaption template	Product Definition	Link
DSB-2981	CRF DSB-2981 OTC ISIN CRDT OPTN Correct the generation of the CFI Code in Index Swaption template	Product Definition	Link
DSB-2991	CRF DSB-2991 OTC ISIN COMD OPTN Correct the generation of the CFI Code in Swaption template	Product Definition	Link
DSB-2678	OTC ISIN: COMMD/NSTD: Allow entry of multiple Commodity Index to Multi-Exotic and Non-Standard templates	Product Definition	Link
DSB-2909	OTC ISIN: COMD: Prevent a single entry of Commodity Index or Index Prop in Multi-Exotic Templates	Product Definition	Link
DSB-4578	OTC ISIN : Correct the Generation of CFI Code for Commodities Swap Non-Standard if Other Base Product component is selected	Product Definition	Link

Affected Templates

Asset Class	Template Request Name	Template Record Name
Commodities		Commod_Frwd_Forward Commod_Frwd_Multi_Exotic_Forward Commod_Frwd_Non_Standard Commod_Frwd_Single_Index Commod_Optn_Multi_Exotic_Option Commod_Optn_Non_Standard Commod_Optn_Option Commod_Optn_Single_Index Commod_Optn_Swaption Commod_Swap_Basis_Swap Commod_Swap_Multi_Exotic_Swap Commod_Swap_Non_Standard Commod_Swap_Single_Index Commod_Swap_Swap
Credit		Credit_Frwd_Non_Standard Credit_Optn_Index_Swaption Credit_Optn_Non_Standard Credit_Optn_Single_Name_Swaption Credit_Swap_ABS Credit_Swap_Corporate Credit_Swap_Index Credit_Swap_Index_Tranche Credit_Swap_Loan Credit_Swap_Municipal Credit_Swap_Non_Standard Credit_Swap_Sovereign Credit_Swap_Total_Return_Swap
Equity		Equity_Frwd_Non_Standard Equity_Frwd_Price_Return_Basic_Performance_Basket Equity_Frwd_Price_Return_Basic_Performance_Basket_CFD Equity_Frwd_Price_Return_Basic_Performance_Single_Index Equity_Frwd_Price_Return_Basic_Performance_Single_Index_CFD Equity_Frwd_Price_Return_Basic_Performance_Single_Name Equity_Frwd_Price_Return_Basic_Performance_Single_Name_CFD Equity_Optn_Basket Equity_Optn_Non_Standard Equity_Optn_Single_Index Equity_Optn_Single_Name Equity_Swap_Non_Standard Equity_Swap_Parameter_Return_Dividend_Basket Equity_Swap_Parameter_Return_Dividend_Single_Index Equity_Swap_Parameter_Return_Dividend_Single_Name Equity_Swap_Parameter_Return_Variance_Basket Equity_Swap_Parameter_Return_Variance_Single_Index Equity_Swap_Parameter_Return_Variance_Single_Name Equity_Swap_Parameter_Return_Volatility_Basket Equity_Swap_Parameter_Return_Volatility_Single_Index Equity_Swap_Parameter_Return_Volatility_Single_Name Equity_Swap_Portfolio_Swap Equity_Swap_Portfolio_Swap_Other Equity_Swap_Portfolio_Swap_Single_Index Equity_Swap_Portfolio_Swap_Single_Name Equity_Swap_Price_Return_Basic_Performance_Basket Equity_Swap_Price_Return_Basic_Performance_Basket_CFD Equity_Swap_Price_Return_Basic_Performance_Single_Index Equity_Swap_Price_Return_Basic_Performance_Single_Index_CFD Equity_Swap_Price_Return_Basic_Performance_Single_Name Equity_Swap_Price_Return_Basic_Performance_Single_Name_CFD
FX		Forex_Frwd_Contract_for_Difference Forex_Frwd_Forward Forex_Frwd_NDF Forex_Frwd_Non_Standard Forex_Frwd_Rolling_Spot Forex_Frwd_Spreadbet Forex_Frwd_Vol_Var Forex_Optn_Barrier_Option Forex_Optn_Digital_Option Forex_Optn_Forward_Vol_Agreement Forex_Optn_NDO Forex_Optn_Non_Standard Forex_Optn_Target_Option Forex_Optn_Vanilla_Option Forex_Swap_FX_Swap Forex_Swap_NDS
Rates		Rates_Swap_Basis Rates_Swap_Basis_OIS Rates_Swap_Cross_Currency_Basis Rates_Swap_Cross_Currency_Fixed_Fixed Rates_Swap_Cross_Currency_Fixed_Float Rates_Swap_Cross_Currency_Fixed_Float_NDS Rates_Swap_Cross_Currency_Inflation_Swap Rates_Swap_Cross_Currency_Zero_Coupon Rates_Swap_Fixed_Fixed Rates_Swap_Fixed_Float Rates_Swap_Fixed_Float_OIS Rates_Swap_Fixed_Float_Zero_Coupon Rates_Swap_Inflation_Basis Rates_Swap_Inflation_Basis_YoY Rates_Swap_Inflation_Basis_Zero_Coupon Rates_Swap_Inflation_Fixed_Float_YoY Rates_Swap_Inflation_Fixed_Float_Zero_Coupon Rates_Swap_Inflation_Swap Rates_Swap_Non_Standard Rates_Frwd_Debt Rates_Frwd_FRA_Index Rates_Frwd_FRA_Other Rates_Optn_CapFloor Rates_Optn_Debt_Option Rates_Optn_Inflation_CapFloor Rates_Optn_Non_Standard Rates_Optn_Swaption
Other / Non Standard		Other_Frwd_Non_Standard Other_Optn_Non_Standard Other_Oth_Non_Standard Other_Oth_Undefined