The Derivatives Service Bureau (DSB) Consortium Limited is a global numbering agency specializing in the allocation and maintenance of International Securities Identification Numbers (ISINs), Classification of Financial Instruments (CFIs), and Financial Instrument Short Names (FISNs) for Over-the-Counter (OTC) derivatives. Founded by the Association of National Numbering Agencies (ANNA) in 2015, the DSB operates as a fully automated, centralized global utility designed to meet the complex identification needs of OTC derivatives markets. Its primary role is to facilitate market participants and regulators by providing unique and internationally recognized identifiers for derivatives products, enhancing transparency and stability in the derivatives markets worldwide.
DSB’s services support regulatory compliance and market efficiency by enabling standardized and consistent product identification used in transaction reporting, risk assessment, and market surveillance. In 2019, the Financial Stability Board designated the DSB as the exclusive service provider for the Unique Product Identifier (UPI) system, broadening its role to include management of the UPI reference data library. This designation highlights its critical contribution to systemic risk assessment and detecting market abuse in OTC derivatives trading.
The consortium works on a cost-recovery basis, providing services globally with widespread industry representation and collaboration at its core. It employs a Technology Advisory Committee comprised of user organizations, independent experts, and regulatory observers to ensure technology strategies align with market requirements. DSB’s technological platform supports multiple taxonomies and delivers near-real-time issuance of identifiers, integrating with front-office systems to facilitate trading and order management.
The DSB fosters transparency and operational risk control for institutional investors by providing consistent identifiers in OTC derivatives markets, supporting regulatory reporting and market integrity. It maintains operational offices in London, UK, and is a legal subsidiary of ANNA. The company files annual statutory accounts audited according to UK financial standards, reporting its activities segmented into ISIN, commercial optional services, and UPI systems.
In recent years, DSB has actively engaged in industry consultations to refine cost allocation policies, ensure fair data access, and introduce new user categories like fee-paying distributors to enhance service models for 2026 and beyond. The consortium’s proactive approach reflects its commitment to supporting the evolving global regulatory framework for derivatives markets while maintaining broad industry support and transparency.
