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Derivatives Service Bureau launches user survey and agreement forum

The Derivatives Service Bureau, 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, is conducting a User Survey as well as establishing a group-wide Agreement Forum.

Committed to the use of international standards to make the OTC derivatives market a more stable and efficient environment, both initiatives have been set up to ensure continued extensive industry collaboration and representation with the DSB, including impact on user agreements, services and fee models.

As part of the DSB milestones announced today, the DSB is undertaking a User Survey on the existing fee model timeline and annual review cycle. The User Survey is open until 5pm UTC on Friday 15th March 2019 and has been designed to allow DSB users a format for early feedback that will feed into the annual consultation process being launched in the coming months.

The DSB is committed to continue working with industry to determine a timeline for review of fees, which will enable industry to plan ahead and achieve the best value for money. Reviewing contracts for group entities currently with multiple licences, while maintaining the DSB values of representation on a fair and equitable basis within the OTC ISIN, CFI and FISN user community is a priority for the DSB. To encourage industry discussion and feedback on this topic, the DSB will be establishing a group-wide Agreement Forum to discuss possible ways to enhance the User Fee model.

Emma Kalliomaki, Managing Director of ANNA and the DSB, says: “Putting industry needs first is at the heart of everything we do, and we’re always looking for ways to increase efficiencies in the process of ISIN allocation as well as in the DSB fee model structure and user agreement. Motivated to bring greater transparency and integration to the OTC derivatives market, we’re launching these two fresh initiatives for industry to lead the evolution of the user fee model as we navigate numbering of OTC derivatives together in the year ahead.”
Malavika Solanki, a member of the DSB Management Team, says: “The DSB offers a reliable, robust automated service for providing ISINs, both agile and flexible to adapt to industry and regulatory requirements. This is an exciting year for the industry as it continues to refine and improve its use of ISINs. At the core of what we do is the drive to build a community of ISIN and CFI users, which in turn provides more support to the wider OTC derivatives industry.”

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