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We are delighted to announce that the Derivatives Service Bureau (DSB) has won ‘Most Innovative Data Standards Initiative’ at the A-Team Innovation Awards 2025. These awards celebrate innovative projects and teams across the vendor and practitioner communities that make use of new and emerging technologies to deliver high-value solutions for financial institutions in capital markets, with a specific focus on Data Management, Trading Technology, ESG and RegTech suppliers.
The DSB has been recognised for the successful delivery of the global Unique Product Identifier (UPI) Service for OTC derivatives-a key step in fulfilling G20 commitments made after the financial crisis to increase market transparency and stability. The UPI, developed by CPMI-IOSCO, based on Financial Stability Board (FSB) recommendations, is the data standardisation initiative designed to significantly progress global systemic risk monitoring as global jurisdictions implement regulations for counterparties to incorporate the UPI into their reporting workflows.
Developed collaboratively with global regulators and industry stakeholders, the DSB launched and delivers the UPI service that works in conjunction with Unique Transaction Identifiers (UTIs) and Critical Data Elements (CDE), promoting data harmonisation and interoperability. In 2024 the US, EU, UK, Australia and Singapore went live for UPI reporting, with Japan, Canada, Hong Kong, Korea and Mexico mandating in 2025.
Emma Kalliomaki, Managing Director of ANNA and the DSB, said, “Good initiatives become a reality when goals, collaboration and innovation align. The DSB is grateful to receive this award, which also acknowledges the critical role of standards in advancing the OTC derivatives markets. This recognition reflects the collaborative efforts of authorities, industry participants, and the DSB to align international standards, drive interoperability, and ensure high-quality data to support market transparency, and drive efficiency. We urge all stakeholders to continue this work with us, either via input into the annual industry consultation on services, or by participation in the cross-industry committees we host”
The DSB commitment to advancing regulatory reform for OTC derivatives markets is ongoing with the annual Industry Consultation running 30 April to 30 May 2025.
More information on the key topics included and how to input into the consultation process can be found here.
