The Derivatives Service Bureau (DSB) announced the timeline for the 2022 industry consultation related to the 2023 OTC ISIN and CFI service provision. In providing advance notice of the consultation, the DSB is seeking to provide market participants with sufficient time to aid planning and resource alignment where necessary.
The DSB encourages all market participants that use or report OTC ISINs, CFI codes, and FISNs who will need to incorporate any service changes into their workflows, to review and respond to the consultation, so that a broad spectrum of views can be reflected in the service that is introduced in 2023.
DSB is founded by the Association of National Numbering Agencies (ANNA) to facilitate the allocation and maintenance of International Securities Identification Numbers (ISINs), Classification of Financial Instrument codes (CFIs) and Financial Instrument Short Names (FISNs) for OTC derivatives.
Emma Kalliomaki, managing director, of ANNA and the DSB, said in a statement: “Given the varying demands on firms’ resources due to market and regulatory developments, it is essential to provide advance notice to enable firms to accommodate providing input.”
As with prior years, the purpose of the consultation is to ensure that the DSB focuses its attention on the areas users consider most helpful. The consultation approach, together with the DSB’s industry outreach and market education efforts, are aimed at ensuring the DSB can continue to best serve its users in a rapidly evolving landscape. The DSB also continues to work to find further efficiencies and alignment of market practices, through the work in the Product Committee and Technology Advisory Committee.
The Derivatives Service Bureau is a global numbering agency for OTC derivatives serving the needs of market participants through the allocation of ISINs, CFIs and FSINs, all globally recognized and adopted ISO standards for identifying, classifying and describing financial instruments.
With an underlying technology platform that is built to support multiple taxonomies of definitions and descriptive data, as well as numbering in near-real-time, the DSB is motivated to bring greater transparency and integration within the OTC derivatives market, enabling institutional investors to standardize data and better control operational risk. Users can access the DSB through a web interface, by accessing data in daily update files or by direct integration to front-office systems for trading and order management.