Industry Group to Support Ongoing Evolution of DSB Technology for Expanding Market Needs
London, UK – The Board of the Derivatives Service Bureau today announced that an industry committee will be formed to advise the DSB on future evolutions of the DSB technology platform to address changing market requirements, initially for a two-year period. In recognition of both emerging technologies and potential new requirements for product identifiers for OTC derivatives, the DSB Technology Advisory Committee will develop reports and recommendations to the Board, representing the conclusions of the group, including minority opinions.
“As a critical market infrastructure, the DSB must be concerned with maintaining the integrity of its platform and services, as well as reacting appropriately and in a timely fashion to new technologies and market requirements,” said Sassan Danesh of the DSB management team. “With a view toward enhancing transparency and reinforcing governance, the Board created the TAC as a means to consult with the industry on the technology decisions, including investments, that will ensure best practices and optimal service for users of the DSB.”
The TAC will comprise up to 20 members. Members may serve either as the representative of an organization or identifiable group of persons with interests affected by the work of the TAC or as a special DSB agent (“SDA”). It is expected that representative members will primarily reflect to the DSB Board and to the TAC the views and interests of the organizations and/or groups that they represent. SDA members will be chosen to provide advice to the DSB Board on the basis of their expertise and best independent judgment in a manner free from conflicts of interest.
The timeline of founding the TAC is as follows:
• 14 December 2017 – deadline for receipt of applications
• 31 January 2018 – Board announcement of TAC members
• 15 March 2018 – first TAC meeting
Applications for membership in the TAC are invited, and can be obtained, along with a copy of the TAC charter, by an emailed request to the email@example.com. The charter of the Technology Advisory Committee may also be downloaded from the DSB TAC page on the ANNA website.
About The Derivatives Service Bureau (DSB) Ltd
Headquartered in London, the DSB is a legal subsidiary of ANNA. Its core purpose is to serve as a global numbering agency, providing unique identification of OTC derivatives to serve the needs of market participants and regulators through allocation of the International Securities Identification Number (ISIN), as well as the Classification of Financial Instruments (CFI) and Financial Instrument Short Name (FISN), as OTC products are created. The ISIN, CFI and FISN are globally recognized and adopted ISO standards for identifying and classifying financial instruments.
More detailed information on the DSB and its development path can be found in the DSB section and related pages, as well as recent announcements at the ANNA website.
Established in 1992 by 22 founding numbering agencies, ANNA is the membership organization of national numbering agencies, which are operated by depositories, exchanges, government agencies, nationally central data vendors and other financial infrastructure organizations. ANNA also serves as the registration authority for the ISIN and FISN standards, under appointment by the International Organization for Standardization (ISO).
Under ANNA’s stewardship, the role of the ISIN in enabling global financial communications has been established worldwide. ISINs are issued today more than 200 jurisdictions worldwide. In addition, ANNA is developing the Derivatives Service Bureau (DSB), a fully automated global numbering agency to meet the operational and regulatory requirements of the over-the-counter derivatives markets. The number of national numbering agencies and nations working to establish national numbering agencies continues to grow each year, now surpassing 120 jurisdictions globally.
For information about ANNA, its members and activities, please visit anna-web.org.
Kathleen Hawk for the Derivatives Service Bureau
+1 347 256-3960
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