London, 4th March 2020 – 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 2020 industry consultation timeline, bringing publication of annual user fees forward and moving to a single in-depth consultation.
User fees will now be published in October, rather than December of each year, in response to the industry’s request to bring the annual fee publication date forward. This enhancement is supported by the revised consultation approach, which in turn feeds key components of the fee model variables. To streamline the consultation process the DSB will publish a single consultation paper containing more comprehensive information for users to consider; previous years have contained two rounds of consultation.
This year’s consultation paper will be published on Thursday 30th April, and industry will have until Monday 1st June to respond, with the final results of the consultation delivered on Wednesday 1st July. The full timeline is available on the DSB’s website.
Emma Kalliomaki, Managing Director of ANNA and the DSB, said, “At the heart of the DSB is the underlying principle to ensure the DSB works for the industry and fulfils market needs. We heard from industry that it would help enormously if we could bring forward the date of the user fee publication and streamlining the consultation process has helped us achieve this whilst also driving broader efficiencies.”
The focus of the 2020 consultation will be based on queries and feedback received from industry since the DSB’s consultation in 2019, as well as the outcome of any completed research and analysis activities undertaken as a result of the 2019 consultation. The DSB will utilise targeted consultations with specific focus throughout the year, if required, to address any regulatory changes or industry requirements that fall outside the larger annual consultation process.
Malavika Solanki, a member of the DSB Management Team, said, “As with prior years, the purpose of consultation is to obtain views from industry in order to shape the service and ensure that the DSB focuses its attention on the areas users consider most helpful. The consultation approach, together with our industry outreach and market education efforts are aimed at ensuring the DSB can continue to best serve its users in a rapidly evolving landscape.”
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