BRUSSELS, BELGIUM--(Marketwired - Dec 19, 2016) - The Association of National Numbering Agencies today announced the launch of its second industry consultation with the publication of a consultation paper on key technical and operational aspects of the NNA Derivatives Service Bureau. In an additional announcement, the response time has been extended for the current DSB consultation on the work of the Product Committee.
The new tech/ops consultation provides transparency on the current proposition and solicits stakeholder comments to ensure the service will meet the industry's requirements for the delivery of ISINs for OTC derivatives. "This industry consultation is the first to address the way the DSB numbering agency will be operated," notes Sassan Danesh of Etrading Software, which serves as the management services partner for the DSB. "As with all in this series of consultations, it is being run on an aggressive schedule that reflects the rapid timeframe of DSB development. We aim to have management decisions in place before UAT testing begins in April and to be fully operational in October of 2017."
The consultation paper can be downloaded now from the Tech/Ops Consultation page of the ANNA website. Topics covered include the following:
- Key operational processes
- UAT on-boarding approach
- Performance and throughput
The consultation paper also introduces the opportunity for market participants to conduct early testing of FIX connectivity and functionality on the DSB Demo site, which will begin in February and offer a two-month head start on the formal UAT period beginning in April.
Responses to the consulting paper may be sent to the DSB-TO-Secretariat@etradingsoftware.com. Responses will be made public unless anonymity is requested by the respondent or specified by the question.
The deadline for response to the technical and operational consultation is 9 January 2017. After consideration of the feedback received, the DSB expects to publish its conclusions by 5 February 2017.
The next industry consultation will concern fee models for the numbering agency services of the DSB, and is scheduled to begin 9 January 2017.
Extended Response Window for Consultation on Product Committee Principles
Due to the multiple requests for additional response time for the currently-running consultation on Product Committee, the response deadline has been extended to 4 January 2017. The consultation paper can be downloaded from the DSB Product Committee Consultation page of the ANNA website.
About the DSB Product Committee
DSB Product Committee members will participate for a two-year term. Their activities include product governance and direct involvement in the creation and maintenance of correct data specifications for OTC derivative ISINs and related descriptive taxonomies, including addressing emerging new products. More information on the DSB Product Committee framework can be found here on the ANNA website.
About the ANNA Derivatives Service Bureau
The DSB is being developed to serve the needs of the OTC derivatives market participants and regulators for unique identification of these financial products through allocation of the International Securities Identification Number (ISIN). The ISIN is a globally recognized and adopted ISO standard for identifying financial instruments. The development timeline is keyed to industry implementation before the in-force date of MiFID 2 in January 2018.
As mentioned, the DSB Product Committee will be responsible for the product stewardship. It will operate alongside the DSB Board which will focus on delivering the technology, finalizing the overall structure and running the numbering agency on a cost-recovery basis.
More detailed information on the DSB can be found in recent announcements at the ANNA website.
Established in 1992 by 22 founding numbering agencies, ANNA is the membership organization of national numbering agencies, which are operated by depositories, exchanges, government agencies, nationally central data vendors and other financial infrastructure organizations. ANNA also serves as the registration authority for the ISIN numbering standard, under appointment by the International Organization for Standardization (ISO).
Under ANNA's stewardship, the role of the ISIN in enabling global financial communications has been established worldwide. ISINs are issued today more than 200 jurisdictions worldwide. The number by national numbering agencies and nations working to establish national numbering agencies continues to grow each year, now surpassing 120 jurisdictions globally. For information about ANNA, its members and activities, please visit anna-web.org.