The Derivatives Service Bureau (DSB) announced the extension of UPI User Acceptance Testing (UAT) into the OTC ISIN UAT environment, enabling OTC ISIN users to commence testing combined OTC ISIN and UPI workflows.
Following the release of the stand-alone UPI UAT environment on 17 April 2023, users of the OTC ISIN UAT environment can develop and test changes to their systems to incorporate the UPI as part of the OTC ISIN record, ahead of production release in October.
As part of the release, a new process has commenced to update the existing OTC ISIN test records in the UAT environment with their parent UPI. Users have the opportunity to consume the updates from this process for testing purposes. The DSB will also perform the UPI pre-population process when the UPI Service is launched in the Production Environment on 16 October 2023. Further documentation describing the pre-population process is available on the DSB website.
Emma Kalliomaki, managing director of the Association of National Numbering Agencies (ANNA) and the DSB, said in a statement: “Given the reporting requirements in EU and UK, which require reporting of OTC ISIN or UPI dependent on scope, the availability of the combined UPI and OTC ISIN data in UAT should further assist firms with their readiness for the forthcoming compliance dates. It is great that firms are already taking advantage of UAT and encourage more to make the most of the benefits it can bring to planning and implementation.”
In the Client Onboarding and Support Platform (COSP), used for the UPI onboarding process, users can add affiliates as well as generate and download an auto-populated UPI Subscription Form for legal teams to review. This also applies to users who can meet their UPI requirements through using their OTC ISIN Service needing to obtain an equivalent, or greater, UPI agreement.