Derivatives Service Bureau extends global participation in tech forum

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, is extending global participation in its technology forum, the Technology Advisory Committee (TAC). 

The DSB is inviting applicants to participate in the next term of the TAC which starts in October 2020, with an application deadline of Friday, 4 September.

The TAC was established to provide technical support to the DSB and is currently composed of twenty-seven members, most of which originate from banks, vendors, trade associations and wider OTC derivatives community. It meets in March and October for technology governance purposes, and more regularly in response to the wider and more urgent needs of the industry that arise through the DSB’s annual industry consultation process. In addition to the OTC ISIN, the TAC is extending its remit from October this year to cover matters relating to the Unique Product Identifier (UPI).

Up to ten new members will be brought onto the TAC, with applicants from Asia, the Middle East, Africa and South America particularly welcome. The DSB is expecting to expand the TAC with technologists from a broad spectrum of institution types, with expertise in infrastructure and cloud-based technology, workflows and cybersecurity. At the same time, a new TAC Chair will also be appointed for the next term.

Emma Kalliomaki, Managing Director of ANNA and the DSB, says: “There is already considerable technical expertise and skill that sits behind the DSB's TAC. This could be seen in the TAC’s responsiveness during COVID-19 and the seamless continuity of service and resilience of infrastructure and accessibility. The DSB’s call for additional technical expertise is partly designed to reflect the recent update of DSB TAC Charter which extends the TAC’s work to cover UPIs. It will also help further expand the range of geographic perspectives that shape the work of the DSB.”

Andy Hughes, a member of the DSB Management Team, says: “Over the last couple of years the TAC has been responding successfully to the data challenges the financial industry is having to deal with daily in the OTC derivatives markets. By extending our geographical technological expertise, the DSB TAC will continue to work with a team of pragmatic practitioners on data alignment to ensure the DSB continues to provide accurate data which is timely and relevant, critical to reducing risk, thereby enabling trading decisions to be more efficient.” 

The first TAC meeting of the new term will commence on the 28 October 2020, and the new term will run for two calendar years. Applicants are requested to send a covering email to the TAC Secretariat (DSB.TAC@ANNA-DSB.com) and a copy of their CV. Please include confirmation that you have reviewed and accept the Competition Law Protocol, as documented in the TAC Charter.