The Derivatives Service Bureau (DSB), has announced that its Technology Advisory Committee (TAC) has expanded to reflect broad geographic reach following the Financial Stability Board’s (FSB) designation of the DSB as the Unique Product Identifier (UPI) Service Provider.
A new two-year term of the TAC begins today. TAC membership has been expanded to reflect the geographic diversity that will underpin the global UPI implementation effort. The TAC now has six members based in Asia, one in the MENA region, ten in North America, and thirteen in Europe. TAC membership is comprised of representatives from across the sell-side, buy-side, data vendors, execution platforms, market infrastructure providers, trade associations and other industry experts.
The TAC Chair also continues to be drawn from industry, underpinning a core principle of the DSB to remain very much industry driven. The outgoing chair, David Broadway, has led the industry forum through industry’s implementation efforts, and subsequent rationalization of workflows, as well as the onboarding of a Chief Information Security Officer at the DSB; enabling the new TAC Chair, Chris Pulsifer Software Development Manager from Bloomberg LP, to build on these significant achievements.
A key role of the TAC’s work is now to assist the DSB in specific developments, such as supporting UPI implementation planning, as well as continue to focus on delivering on a range of cybersecurity, business continuity and infrastructure review related matters, in conjunction with feedback from the broader industry community.
Marc Honegger, Member of the DSB Board and TAC Sponsor, said, “We thank David Broadway for his stewardship of the TAC’s first term and are delighted to have Chris Pulsifer join us as the new TAC Chair. He is well placed to lead the TAC given his active participation throughout the first term, as well as bringing extensive industry experience. The TAC achieves its success because it is full of highly experienced experts who bring a wealth of knowledge to discussions, and the additional expansion exemplifies the global nature of the institutions that are working with and using the DSB.”
Andy Hughes, DSB Technology Manager, said, “The TAC spends much time focusing on resilience for DSB users and provides critical expertise to ensure there is continuity across all DSB operations. The expanded team will continue to assist the DSB in its consideration of high level functional and work-flow requirements, and will be particularly focused on the UPI in the coming year. The UPI and associated reference data are also being codified in the form of an ISO standard which is now under development, and the TAC will focus on the workflows needed to request and create UPIs, as well as searching within the UPI Reference Data Library.”
