About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

ROC and DSB Sign Memorandum of Agreement on Governance of Unique Product Identifier

Subscribe to our newsletter

The Regulatory Oversight Committee (ROC) and Derivatives Service Bureau (DSB) have finalised a Memorandum of Understanding (MOU) on the implementation of governance arrangements for the globally harmonised Unique Product Identifier (UPI).

In October 2019, the Financial Stability Board (FSB) published governance arrangements for the UPI, outlining the governance framework and criteria for the UPI system. This included the need to establish a direct relationship between the ROC and DSB. In October 2020, the ROC expanded its mandate to become the international governance body of the UPI and the FSB transferred governance and oversight responsibilities in relation to the UPI to the ROC.

The MOU has been developed on the basis of collaboration between the ROC and DSB to outline the division of responsibilities in overseeing the UPI system, as well as the criteria and characteristics of how the system will operate in practice. It includes the commitments undertaken by the DSB to perform the role of UPI service provider in the interests of stakeholders in accordance with the governance criteria, and covers aspects such as access to information, expectations on policies and procedures, role and oversight of industry advisory committees, UPI service provider designation and designation procedures, financial sustainability requirements, stakeholder consultation and transparency needs.

François Laurent, chair of the ROC Chair, says: “The MOU sets the basis for a fruitful cooperation between the ROC and DSB to ensure that the UPI system operates smoothly and effectively.” Emma Kalliomaki, managing director of the DSB, adds: “We are working hard to ensure that the UPI governance principles outlined in the MOU are enshrined in the UPI service, so that all stakeholders will have the most effective UPI service from next July, 2022.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Hearing from the Experts: AI Governance Best Practices

The rapid spread of artificial intelligence in the financial industry presents data teams with novel challenges. AI’s ability to harvest and utilize vast amounts of data has raised concerns about the privacy and security of sensitive proprietary data and the ethical and legal use of external information. Robust data governance frameworks provide the guardrails needed...

BLOG

Data’s Evolution Continues From Cost to Core Asset: DMS New York City 2025 Preview

Modern Chief Data Officers are not only the guardians of financial institutions’ data estates, they are also the caretakers of their single-biggest asset. With every part of an organisation’s business now dependent on data, the custody of its digital information is every bit as critical to operations as the management of trading teams or even...

EVENT

AI in Capital Markets Summit London

Now in its 3rd year, the AI in Capital Markets Summit returns with a focus on the practicalities of onboarding AI enterprise wide for business value creation. Whilst AI offers huge potential to revolutionise capital markets operations many are struggling to move beyond pilot phase to generate substantial value from AI.

GUIDE

Regulatory Data Handbook 2025 – Thirteenth Edition

Welcome to the thirteenth edition of A-Team Group’s Regulatory Data Handbook, a unique and practical guide to capital markets regulation, regulatory change, and the data and data management requirements of compliance across Europe, the UK, US and Asia-Pacific. This year’s edition lands at a moment of accelerating regulatory divergence and intensifying data focused supervision. Inside,...