The Derivatives Service Bureau Consultation Highlights Needs of New and Existing Users

The Derivatives Service Bureau Consultation Highlights Needs of New and Existing Users
01.05.2020 10:03 am

The Derivatives Service Bureau Consultation Highlights Needs of New and Existing Users

Derivatives and OTC Derivatives

 The Derivatives Service Bureau (DSB), 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, has today announced more detail on the 2020 Industry Consultation, highlighting the needs of new and existing users. 

This year’s consultation process will include questions about Functionality and Data Enhancement as well as a proposal related to the DSB’s dispute resolution process. The DSB is consulting on whether industry would like a more structured format of notifications and updates, to help drive further functional efficiencies. The consultation will examine the advantages, including for end product participants and technical specialists, of being able to consume data into users’ own automated processes; enabling AI driven robotic process automation, for example. 

Additionally, this year’s consultation will examine whether to create a new DSB ‘search only’ programmatic access for OTC ISIN data. A further Functionality topic in the consultation relates to how users can access OTC ISIN data. At present, users can download all historical data through end of day files. The consultation will also examine whether there is a broad call and need for ‘data snapshots’ for specific date ranges, in particular to ease new DSB users’ access to OTC ISIN data.

Concerning Data Enhancement, the consultation this year will ask whether the DSB should analyse  enhancement of the OTC FISN, to reflect the industry’s needs based on lessons learned since the implementation of MiFID II more than two years ago.

Lastly, the consultation will also touch on a proposal to amend the DSB Governance Policy, in particular an amendment to the disputes resolution process, to reinforce parity and equal treatment of users. The feedback on this item will dovetail into the annual review of the DSB Access and Usage Agreement scheduled for later in the year. 

This year’s consultation paper was published on Thursday 30th April, and industry will have until 5pm UTC on Monday 1st June to respond, with the final results of the consultation delivered on Wednesday 1st July. The full timeline is available on the DSB’s website.

Emma Kalliomaki, Managing Director of ANNA and the DSB, said, “We are delighted by the engagement we receive from industry through the annual consultation process.  Given the current unprecedented global situation, the aim of this streamlined consultation is to drive efficiency and focus on obtaining feedback on user requests to expand functionality and further data enhancements. We would encourage any user to respond as we’d very much like to receive broad feedback on the proposals.”

Malavika Solanki, a member of the DSB Management Team, said, “We continue to collaborate with industry to ensure all views and requirements are brought into the consultation. This year’s consultation illustrates that new users - whose numbers are growing - as well as existing users, are engaging fully with the process. It is essential that we continue to garner feedback through consultations, to maintain broad representation and we look forward to working closely with a wide range of industry participants through the existing DSB industry forums and other channels.” 

As with prior years, the purpose of the consultation is to ensure that the DSB focuses its attention on the areas users consider most helpful. The consultation approach, together with our industry outreach and market education efforts, are aimed at ensuring the DSB can continue to best serve its users in a rapidly evolving landscape. 

Related News

Cassini Systems Partners with AcadiaSoft to Help Clients Manage Initial Margin Requirements

Cassini Systems, the leading provider of pre- and post-trade margin analytics for derivatives market participants,... Read more »

Neptune and CME Group provide high-quality composite for the Global Bond Market

Neptune Networks Ltd. (Neptune), today announced the release of their composite product, working in collaboration with CME Group, to provide clients access to a higher quality... Read more »

TriOptima Announces Completion of First Cleared Inflation Swap Compression Run in LCH SwapClear

TriOptima, a leading infrastructure service that lowers costs and mitigates risk in OTC derivatives markets, today announced that it has completed the first cleared inflation... Read more »

TriOptima Record Compression Shrinks Notional in Eurex Clearing

TriOptima, a leading infrastructure service that lowers costs and mitigates risk in OTC derivatives markets, ... Read more »

NRI and Mizuho Bank Complete Research Addressing Applications of AI in Eliminating Tedious Derivative Contract Procedures

Nomura Research Institute, Ltd. (NRI), a leading provider of consulting services and system solutions, in collaboration with Mizuho Bank, Ltd., today announced the completion... Read more »

Trax Transforms Integration of CME Global Repository Services Into Insight Platform

Trax, a leader in providing of regulatory reporting, trade matching and capital market data services, has bolstered its strategic alliance with the CME by integrating the... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel