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) for OTC Derivatives, has announced a new Product Committee membership for its second term.
The DSB values representation on a fair and equitable basis within the ISIN user community. Following extensive industry consultation and a lengthy invitation process for industry participation, distributed to all DSB users and other interested parties (over 2,800 individuals), the new Product Committee membership has been chosen based on experience, asset class and workflow expertise and geographical representation across all user categories.
From 8 January 2019, five trade associations will now be joining as non-voting members, to contribute to a balanced representation of asset class knowledge and geographical representation. Representation will expand on the existing buy-side, sell-side and trading venues, thereby increasing voting members to also include two new categories – custodians and data vendors. In addition, the role of chair will transition from the DSB to two external co-chairs directly from industry, to maintain strict neutral and impartial discussion.
Emma Kalliomaki, Managing Director of ANNA and the DSB, says: “We would like to convey our thanks to the members of the current Product Committee who have worked tirelessly with the DSB, having met on a weekly basis for the past two years. We are delighted with the high quality of applicants driving the composition of the new Product Committee membership, and are confident that Product Committee discussions will continue to ensure the best possible ISIN creation and use will only serve to bring greater transparency and efficiency to the global OTC derivatives market.”
Malavika Solanki, a member of the DSB Management Team, says: “With this new Product Committee membership and the broad-based expertise they bring, the DSB can now move from developing ISIN products and defining product templates, to solving additional OTC Derivative ISIN use cases and examining the introduction of hierarchies, as well as discussions on what to prioritise.”