Etrading Software establishes task force on digital asset standards
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Etrading Software establishes task force on digital asset standards 11 June 2021UK Reporter: Maddie Saghir
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Etrading Software (ETS) and the Association of National Numbering Agencies (ANNA) have created a new joint task force.
According to ETS, the task force aims to identify potential synergies between the digital token identifier (DTI) and the international securities identification numbers (ISIN).
The digital token identifier foundation (DTIF) was created by Etrading Software to provide ISO standard identifiers for digital assets based on open data principles.
Meanwhile, the task force with ANNA and individual National Numbering Agencies, (NNAs), was established in April and is due to run for 12 months.
A key deliverable of the new task force will be to produce a set of recommendations on areas of collaboration to the ETS and ANNA boards, including an outline implementation plan.
These might include aligning DTIs and ISINs, automatic notifications between issuing authorities or white-label access and/or federated models for the allocation of the identifiers to digital assets, explains ETS.
ETS says it wants to ensure that ISO DTI 24165 will be integrated and seamless with existing industry standards, and wants to integrate the DTI with other relevant standards which have different functions but are intrinsically linked.
“This will reduce the operational complexity and costs of the DTI and provide a clear link between an asset and a digital token that represents the asset,” says Sassan Danesh, managing partner of ETS.
Stephan Dreyer, managing director of ANNA, comments, “ANNA has its own permanent working group on digital assets, and this topic is a core priority of ours. We collaborate with industry and other standards bodies to ensure that standards within our responsibility are harmonised and interoperable with complementary standards, leading to efficient usage and greater accessibility for market participants.”
Dreyer adds: “In that regard, we are very happy to be working with ETS, the registration authority for the ISO 24165 DTI standard, to look for synergies and interoperability between the ISIN and the DTI.”
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