“We are delighted to work with our ANNA colleagues to make the DSB a reality and take an active role in its governance,” said Scott Preiss, Managing Director and Global Head of CGS. “Global regulators have recognized ISIN as the accepted global standard for cross-border trading, and the DSB will serve the unique, near-real time requirements for allocating identifiers to OTC derivatives.”
Created by ANNA as a subsidiary Special Purpose Vehicle, the DSB will be governed by a board of directors, on which CGS will hold a seat, alongside an industry-appointed Product Committee that determines the specifications for ISINs representing a broad range of derivative types.
“We are pleased and honored that CGS, which has long supported the globalization of ISO financial standards, has joined the list of organizations to support the DSB and its critical role as the first global numbering agency in extending ISO standards into the realm of OTC derivatives,” added Dan Kuhnel, Chairman of the ANNA board of directors.
The development timeline for the DSB tracks to the implementation of MiFID II, which is slated for January of 2018.
About CUSIP Global Services
The financial services industry relies on CGS’ unrivaled experience in uniquely identifying instruments and entities to support efficient global capital markets. Its extensive focus on standardization over the past 45 years has helped CGS earn its reputation as a trusted originator of quality identifiers and descriptive data, ensuring that essential front- and back-office functions run smoothly. Relied upon worldwide as the industry standard provider of reliable, timely reference data, CGS is also a founding member and co-operates the Association of National Numbering Agencies (ANNA) Service Bureau, a global security and entity identifier database for over 34 million public and privately traded instruments, contributed by 92 national numbering agencies and 27 partner agencies representing 255 different countries. CGS is managed on behalf of the American Bankers Association (ABA) by S&P Global Market Intelligence, with a Board of Trustees that represents the voices of leading financial institutions. For more information, visit www.cusip.com.
About The American Bankers Association
The American Bankers Association represents banks of all sizes and charters and is the voice for the nation’s $13 trillion banking industry and its 2 million employees. Learn more at www.aba.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cusip-global-services-invests-in-derivatives-service-bureau-300440898.html
SOURCE CUSIP Global Services