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DSB publishes UPI fee model consultation final report

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Outlining core services and fee model available to users at launch of the service.

Outlining core services and fee model available to users at launch of the service.

The Derivatives Service Bureau (DSB), founded by the Association of National Numbering Agencies (ANNA), to facilitate the allocation and maintenance of ISINs, CFIs and FISNs for OTC derivatives, has published its final Unique Product Identifier (UPI) fee model consultation report.

The UPI is designed to facilitate effective aggregation of over-the-counter (OTC) derivatives transaction reports on a global basis. Reporting parties will be mandated to incorporate the UPI into their workflows and submit these to trade repositories once mandates come into effect in each of Africa, Asia, Australia, Europe and the Americas. 

The report documents the final shape of the UPI service at launch. Particular items of interest highlighted within include: anticipated user estimates, a description of the functionality to be made available, user types, as well as the invoicing and contractual approach on day one of the service. UPI users will be able to connect on a free-to-use and fee-paying basis, with services tiered accordingly. The DSB will also seek to utilise a consistent framework when launching new services so that users seeking both UPI and OTC ISIN services can leverage their connectivity to best effect.

Emma Kalliomaki, Managing Director of ANNA and the DSB, says: “The DSB has undertaken an extensive consultation with industry who have widely concurred with DSB proposals and have helped shape the service. We are working hard to ensure that best practice and good governance principles are enshrined in the UPI, so that both industry and regulators will have the most efficient UPI service.”

The DSB will launch a further industry consultation on the UPI Legal Terms and Conditions on 2 November 2021.

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