We are pleased to announce that the Derivatives Service Bureau (DSB) has won ‘Best Standards Solution for Data Management’ at the A-Team Data Management Insight Awards Europe 2024. These awards recognise both established solution vendors and innovative newcomers providing leading data management solutions, services and consultancy to capital markets participants across Europe.
The DSB has been acknowledged for the successful launch of the new global Unique Product Identifier (UPI) Service. This achievement aligns with G20 commitments made post the financial crisis to reform the OTC derivatives market. The UPI, developed by CPMI-IOSCO, based on Financial Stability Board (FSB) recommendations, has been established to streamline the global aggregation of OTC derivatives products and enhance the monitoring of systemic risk across global OTC derivatives markets. This year, the US, Europe, UK, Australia and Singapore implemented regulations for counterparties to incorporate the UPI into their reporting workflows, driving global adoption and data harmonization.
The DSB is a market utility fostering interoperability through the adoption and implementation of global, ISO standards, including the UPI, the International Securities Identification Number (ISIN), Classification of Financial Instruments (CFI) and Financial Instrument Short Name (FISN) for OTC derivatives.
The commitment to advancing regulatory reform for OTC derivatives markets remains ongoing with Japan implementing UPI reporting on 7 April 2025, Canada on 25 July 2025 and Hong Kong on 29 September 2025. Korea and Saudi Arabia are also advancing preparations for the roll out of mandatory UPI reporting.
Emma Kalliomaki, Managing Director of ANNA and the DSB, said, “2024 has been a significant year for the implementation of UPI reporting globally. The DSB is grateful to be awarded Best Standards Solution for Data Management, recognising the collaborative work between authorities, firms and the DSB to leverage and integrate international standards. We look forward to the continued work with all stakeholders to meet the evolving needs of the OTC derivatives markets”.
