DSB calls for new Middle Eastern and Asian product committee members
Latest news
DSB calls for new Middle Eastern and Asian product committee members 25 November 2020UK Reporter: Natalie Turner
Image: Samott/adobe.stock.com
The Derivatives Service Bureau (DSB), a global numbering agency for over-the-counter (OTC) derivatives, is calling for new members for its product committee with an application closing date of 13 January 2021.
The DSB was 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 and financial instrument short names.
The committee key aim is to assist the bureau with its work in the OTC derivatives space. Its charter has been revised, expanding the remit to include the DSB鈥檚 work as the unique product identifier (UPI) service provider.
The committee鈥檚 existing membership includes representatives from the buy side, sell side, custodians, data vendors, trading venues and trade associations.
New members are chosen based on asset class and workflow expertise, as well as geographical representation across all user categories.
The committee is now seeking to expand its membership from the Middle East and Asia regions to further broaden geographic industry collaboration.
Once new members are selected, the committee will begin its third term in February 2021, which will run for two years.
Joseph Berardo, co-chair of the committee and director of credit product management at Intercontinental Exchange/NYSE, says: 鈥淭o deliver on the promise of providing the industry with a global standard OTC derivatives instrument identifier, it requires a diverse group of financial industry experts that come together to identify and resolve the challenges in applying such standards.
鈥淭he DSB product committee has successfully met these challenges and will continue to do so as new implementation challenges arise.鈥�
Fellow co-chair Harry McAllister, who also serves as an information architect at BNP Paribas, adds: 鈥淎s the industry liaison group to the DSB, the committee is actively engaged with market participants and collaborates extensively with the industry to address data-related challenges such as those posed by changing regulatory requirements.
鈥淭he committee continues to support ISIN assignment for OTC derivative products, refining product template definitions and solving for additional use cases. We are excited to take on a new role in the governance structure of the UPI, and look forward to starting work on implementation.鈥�
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one securities finance news source this
year, make sure it is your free subscription to 麻豆传媒 Finance Times
Image: Samott/adobe.stock.com 