The new committee will provide recommendations on governance matters related to the ISIN and UPI Services.
The DSB (Derivatives Service Bureau) has announced the formation of a new Governance Advisory Committee (GAC) to provide industry guidance for ISIN and UPI Services, as well as recommendations to the DSB board on governance for both services.
The DSB, a subsidiary of ANNA (Association of National Numbering Agencies), is responsible for the creation and distribution of ISINs and UPIs.
The UPI Service was launched in October, to cater to new reporting requirements for OTC derivatives that come into effect in the US on 29 January 2024, the EU on 29 April 2024, the UK on 30 September 2024, Australia and Singapore from 21 October 2024, and Japan from 7 April 2025.
The DSB already operates a Product Committee (PC) and Technology Advisory Committee (TAC), which support the evolution of product definitions, and technology and operations, respectively.
In a statement on Thursday (7 December), the DSB said the GAC will provide recommendations to the DSB board on governance matters related to the ISIN and UPI Services, including the DSB fee model, policies and subscription terms.
Managing Director Emma Kalliomaki said the GAC will enable more frequent and in-depth dialogue between the DSB and stakeholders on governance matters, and that its recommendations will assist in shaping the DSB’s future.
In January 2024, the DSB will publish the GAC Charter and issue a call for participation. The membership is expected to be finalised in March ahead of an inaugural GAC meeting on 28 Mar 2024.
To find out more about the new OTC derivatives reporting requirements, join us for this webinar on 25 January 2024.