The Derivatives Service Bureau (DSB), a source of reference data for over-the-counter (OTC) derivatives, has released the schedule for the 2024 industry consultation relating to the OTC International Securities Identification Number (ISIN), Unique Product Identifier (UPI) and Classification Financial Instrument (CFI) service provisions.
The DSB annual industry consultation plays a vital role in shaping the DSB’s services. Stakeholders are encouraged to participate to ensure a broad range of views are considered, so the DSB can continue to meet the needs of its user community.
Consistent with previous years, timings are being communicated in advance to give market participants sufficient notice to respond. The consultation paper will be published on 30 April 2024, and the industry will have until 31 May 2024 to submit responses. The Final Report will be published on 16 July 2024. The full timeline can be found on the DSB website.
The consultation supports the development of DSB services by focussing on aspects of its services that users have highlighted for development consideration and optimisation, or to address evolving market practices and technological advances. For the first time, this year’s consultation will include the new UPI services, which is particularly relevant as G20 regulatory reporting mandates go live throughout 2024 and 2025.
Key topics that will be covered include: user type functionality, including intermediaries, the Traded on a Trading Venue (ToTV) Service; and fair cost apportionment across service provisions.
The DSB continues to uphold the development and adoption of OTC derivative identifier standards that promote market interoperability through the work of the DSB Product Committee, the Technology Advisory Committee and the recently launched Governance Advisory Committee.
The consultation, in conjunction with the ongoing complementary work of the DSB industry representation groups, is designed to provide an opportunity for the DSB’s broad and varied user community to contribute, ensuring that services remain fit for purpose and evolve in line with the needs of the industry.
