The Derivatives Service Bureau (DSB) has formed a Governance Advisory Committee (GAC) to provide additional industry guidance for both the International Securities Identification Number (ISIN) and the Unique Product Identifier (UPI) services. A call for participation in the committee will be made on 17 January 2024, along with publication of the GAC Charter.
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, and will complement existing committees – the Product Committee that supports the evolution of the DSB’s product definitions, and the Technology Advisory Committee that supports the evolution of the DSB’s technology and operations – as well as the annual industry consultation process.
Emma Kalliomaki, managing director of the DSB, says: “The Governance Advisory Committee will enable more frequent and detailed dialogue between the DSB and stakeholders on governance matters before they go to industry consultation. We are looking for broad representation on the committee, including at business level, to help us move forward.”Following a call for participation in the committee and publication of the GAC Charter on 17 January 2024, applications will close on 14 February 2024. The GAC membership will be published on 12 March 2024 ahead of an inaugural meeting on 28 March 2024.
The DSB is responsible for the creation and distribution of both the ISIN – ISO 6166 for OTC derivatives, which is used in the EU and UK for price transparency and market abuse detection purposes, and the UPI – ISO 4914 that will be used for transaction aggregation to identify the build-up of systemic risks at a global level.
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