The Derivatives Service Bureau (DSB) announced the timeline for the 2021 industry consultation related to the 2022 OTC ISIN and CFI service provision, highlighting in particular cybersecurity and cloud resilience. This year’s consultation for the OTC ISIN and CFI service seeks to build on engagement in previous years, with industry collaboration at its core and a focus on data alignment and harmonization.
Prior consultations have been critical in shaping an operating model that helps bring efficiency and resiliency to the market, and dovetails with ongoing feedback from external stakeholders at each of the Product Committee and Technology Advisory Committee. 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.
Core themes this year focus on providing updates for service enhancements sought last year, as well as risk analysis relating to the DSB’s cybersecurity and cloud resilience. The DSB values the feedback from the process which brings such important industry needs to the fore. This OTC ISIN and CFI consultation process will operate in parallel with the broader, ongoing global consultation focusing on the UPI fee model.
Malavika Solanki, a member of the DSB Management Team, said in a statement: “Industry feedback, be it bilaterally from users and trade associations, through the industry representation groups, and participation in the consultations is invaluable. Evidence of this lies in the new, lower-cost services introduced by the DSB as well as an increased focus on ensuring data consistency when creating and consuming OTC derivative reference data. With the UPI on the horizon, being able to hear potential and current users’ views in shaping the DSB’s strategy grows increasingly important.”