The Derivatives Service Bureau (DSB) announced the timeline for the 2023 industry consultation related to the 2024 OTC International Securities Identification Number (ISIN) and Classification Financial Instrument code (CFI) service provision.
The annual industry consultation is crucial to shaping the DSB’s service in accordance with market participant requirements. Timings are being communicated in advance to ensure the industry has sufficient notice to plan and align resources for participation.
The consultation paper will be published on 28 April 2023, and the industry will have until 31 May 2023 to respond. The Final Report will be published on 30 June 2023.
In 2022, the DSB Main Terms and Policies, collectively known as the ‘Agreement’, were updated to incorporate provisions for the UPI Service such that a Common Agreement was maintained. As the UPI Service will be launched into UAT on 17 April 2023 and into Production on 16 October 2023, requiring the final legal documentation to be available, the next review of the Agreement will take place in 2024.
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, providing advance notice will enable firms to provide input.”
In accordance with previous years, the consultation aims to ensure that the DSB develops the aspects of the service that users find the most valuable. The approach, alongside the DSB’s outreach initiatives and market education efforts, are designed to ensure that the DSB can effectively serve its users and adapt to a constantly evolving market. The DSB continues to work to find further efficiencies and alignment of market practices through the work in the DSB Product Committee and Technology Advisory Committee.