Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.
The Derivatives Service Bureau Consultation Highlights Needs of New and Existing Users
The Derivatives Service Bureau (DSB), a wholly owned subsidiary of Association of National Numbering Agencies (ANNA) which serves as a global numbering agency revealed consultation on 2020 OTC industry highlighting the need for new and existing users in its latest update. DSB primarily handles 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 and is renowned across the globe for its services. As per details mentioned in latest update, this year’s consultation process will include questions about Functionality and Data Enhancement and a proposal in relation to the DSB’s dispute resolution process. To be specific the firm is consultation process will evaluate the pros from capability for consuming data into uses own automated process to help drive functional efficiencies such as enabling AI driven robotic process automation. The consultation would also focus on possible requirements for a more structured format of notifications and updates covering data on all aspects including end product participants and technical specialists to ensure proper functional efficiencies.
Another new topic will be address this year to see if there is a necessity for creation of a new DSB ‘search only’ programmatic access for OTC ISIN data and how users can access OTC ISIN data. While the current system allows users to download all historic data via end of day files, the new method under consultation will see if there is a higher demand for “data snapshots” on specific data range to help new DSB users in easily accessing OTC ISIN data. In regards to Data Enhancement, the consultation will discuss if there is need for DSB to analyze enhancement of OTC FISN to accommodate industry needs which were discovered during implementation of MiFID II which began two years ago. Lastly, the consultation will address a proposal to amend the DSB Governance Policy in relation to the disputes resolution process to reinforce parity and equal treatment of users. 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 firm released its consultation paper update on Thursday, 30th of April 2020 and has mentioned a deadline of up to 5PM UTC on Monday, 1st of June 2020 during which time members from the industry can respond to topics address in the update. The final results of consultation will be made public on Wednesday, 1st of July 2020 with full timeline details being made available in DSB’s website.
Emma Kalliomaki, Managing Director of ANNA and the DSB
Speaking about this year’s consultation – 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.”
Commenting on same note, 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.”
It should be noted that this consultation is performed by DSB on regular yearly basis to ensure that it focuses its attention on areas which its users consider are the most beneficial and helpful to them. The approach to this consultation process along with the firm’s approach to its industry outreach and market education efforts are aimed at ensuring that it can continue to serve its users with utmost best service in a rapidly evolving landscape.
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