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 the results of their second 2019 industry consultation, revealing a significant appetite for further analysis on functionality that may be helpful in delivering improved data quality, standardization and automation as well as further strengthening the DSB’s cybersecurity processes and governance.
The second consultation closed on the 29th July with 9 responses representing 12 institutions, four of which were from trade associations. Industry concurred with 80% of proposals set out in the second consultation paper. Half the proposals are being taken forward for analysis, to allow the industry to better understand the benefits and potential impact.
The industry requested that the DSB undertake further analysis, for example, on leveraging the ISIN-LEI service to provide LEI and other supplemental data to further improve data quality. By placing the LEI mapping table in the product-mapping template the data enables anyone consuming the ISIN record to have easier access to LEI mapping. This, in turn, offers the potential to improve downstream processing. The DSB will be conducting this cost-benefit analysis on a business as usual basis, with no cost impact to users.
Another industry request for more analysis, resulting from the DSB’s 2nd Consultation, was for the DSB to look at the CFI code coverage it provides today and whether and how it needs to be taken forward for implementation as well. Evaluation will also be undertaken by the DSB to ascertain whether and by how much the annual fee determination process can be brought forward in 2020. Following industry feedback, an industry Agreement Forum will also ..
Support the originator by clicking the read the rest link below.
