Derivatives Service Bureau consultation highlights needs of new and existing users
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Derivatives Service Bureau consultation highlights needs of new and existing users 01 May 2020London Reporter: Becky Bellamy
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The Derivatives Service Bureau (DSB), founded by the Association of National Numbering Agencies (ANNA), has revealed that this year’s consultation will include questions about functionality and data enhancement as well as a proposal related to the bureau’s dispute resolution process.
The consultation, published on 30 April, is exploring whether industry would like a more structured format of notifications and updates, to help drive further functional efficiencies.
It will examine the advantages, including for end product participants and technical specialists, of being able to consume data into users’ own automated processes.
Additionally, it will look at the possible creation of a new DSB ‘search only’ programmatic access for over-the-counter (OTC) international securities identification number (ISIN) data.
DSB said it would also explore whether there is a broad call and need for ‘data snapshots’ for specific date ranges, in particular, to ease new users’ access to OTC ISIN data.
Concerning data enhancement, the consultation will look at whether the DSB should analyse enhancement of the OTC financial instrument short names (FISNs), to reflect the industry’s needs based on lessons learned since the implementation of the second Markets in Financial Instruments Directive (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.
DSB said: “The feedback on this item will dovetail into the annual review of the DSB access and usage agreement scheduled for later in the year.”
The consultation will be open for comment until 1 June at 5pm and the final results will be published on Wednesday 1 July.
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, added: “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.”
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