We are delighted to announce that the Derivatives Service Bureau (DSB) has won ‘Outstanding Regulatory Initiative of the Year, Capital Markets’ at the Regulation Asia Awards for Excellence 2025. The awards celebrate firms that are at the forefront of supporting APAC’s evolving regulatory landscape.
The DSB has been recognised for the ongoing delivery of the global Unique Product Identifier (UPI) Service for OTC derivatives. The UPI Service directly addresses a long-standing challenge of transparency in OTC derivatives markets that contributed to the financial crisis and supports post-crisis regulatory reforms. By uniquely identifying an OTC derivative at the product level, the UPI enables authorities to aggregate OTC derivatives transactions and monitor the build-up of systemic risk.
Rollout of the UPI Service across G20 jurisdictions began in 2024 and over the last two years, the UPI Service has played a pivotal role in advancing the harmonisation of regulatory reporting standards on a global scale. The DSB has supported the onboarding of ten G20 jurisdictions, including five within the Asia-Pacific region, namely Australia, Singapore, Japan, Hong Kong and Korea, where authorities have mandated UPI reporting. The DSB has worked with authorities and local market infrastructures to prepare market participants with their UPI integration and onboarding requirements.
Emma Kalliomaki, Managing Director of ANNA and the DSB, said: “The DSB is proud to be recognised at the Regulation Asia Awards for Excellence 2025 for its continued delivery of the UPI Service. This achievement reflects our unwavering commitment in driving global harmonisation of ISO standards, advancing data quality and consistency, and collaborating with stakeholders to evolve in line with the needs of the global market.”
As a cost recovery industry utility, the DSB is now delivering a key regulatory service to over 450 fee-paying organisations and 1,700 free user organisations across 40 countries. In the APAC region alone, the DSB supports 68 fee-paying entities. These include Banks, Trade Execution Platforms, Asset Management firms, Clearing Houses, Brokerages, Trade Repositories and Data Management Providers. For more information about the UPI Service, please visit the DSB website: https://cosp.anna-dsb.com/home
