The Derivatives Service Bureau (DSB) announced more detail on the 2020 Industry Consultation, highlighting the needs of new and existing users. The DSB was 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.
This year’s consultation process will include questions about functionality and data enhancement as well as a proposal related to the DSB’s dispute resolution process. The DSB is consulting on whether industry would like a more structured format of notifications and updates, to help drive further functional efficiencies. The consultation will examine the advantages, including for end product participants and technical specialists, of being able to consume data into users’ own automated processes; enabling AI-driven robotic process automation, for example.
Additionally, the consultation will examine whether to create a new DSB ‘search only’ programmatic access for OTC ISIN data. A further functionality topic in the consultation relates to how users can access OTC ISIN data. At present, users can download all historical data through end of day files. The consultation will also examine whether there is a broad call and need for ‘data snapshots’ for specific date ranges, in particular to ease new DSB users’ access to OTC ISIN data.
Concerning data enhancement, the consultation this year will ask whether the DSB should analyze enhancement of the OTC FISN, to reflect the industry’s needs based on lessons learned since the implementation of MiFID II more than two years ago.
Lastly, the consultation will also touch on a proposal to amend the DSB Governance Policy, in particular an amendment to the disputes resolution process, to reinforce parity and equal treatment of users. The feedback on this item will dovetail into the annual review of the DSB Access and Usage Agreement scheduled for later in the year.
Malavika Solanki, a member of the DSB Management Team, said, “This year’s consultation illustrates that new users – whose numbers are growing – as well as existing users, are engaging fully with the process. It is essential that we continue to garner feedback through consultations, to maintain broad representation and we look forward to working closely with a wide range of industry participants through the existing DSB industry forums and other channels.”