The Derivatives Service Bureau (DSB) announced that its Technology Advisory Committee (TAC) has expanded to reflect broad geographic reach following the Financial Stability Board’s (FSB) designation of the DSB as the Unique Product Identifier (UPI) Service Provider.
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.
The TAC now has six members based in Asia, one in the MENA region, ten in North America, and thirteen in Europe. TAC membership is comprised of representatives from across the sell-side, buy-side, data vendors, execution platforms, market infrastructure providers, trade associations and other industry experts.
A key role of the TAC’s work is now to assist the DSB in specific developments, such as supporting UPI implementation planning, as well as continue to focus on delivering on a range of cybersecurity, business continuity and infrastructure review related matters, in conjunction with feedback from the broader industry community.
Andy Hughes, DSB technology manager, said in a statement, “The UPI and associated reference data are also being codified in the form of an ISO standard which is now under development, and the TAC will focus on the workflows needed to request and create UPIs, as well as searching within the UPI Reference Data Library.”