Malavika Solanki, of the DSB management team, explains: “Industry integration of the new automated OTC derivative ISIN issuance utility is being completed to support identification and reporting of OTC derivatives. We welcome the effort that organisations globally, such as Asset Control, are putting into systems that support the real-time data sourcing model key to achieving compliance.”

Martijn Groot, VP Product Management, Asset Control, comments: “MiFID II regulation presents the need for organisations to retrieve a specific set of data including, but not limited to, ISIN codes and TOTV and uTOTV flags for new as well as existing OTC derivatives. To do this, users are required to supply the Product Definition and further Input Attributes to the DSB via their RESTful API, the FIX Protocol or a web GUI.

“Upon initiation of an OTC instrument request, AC Plus triggers a lookup mechanism to first check if the requested information is already available in its master database. If not, an automatic follow up process takes place, routing the request to the DSB to complete the master record and thereafter transmit the results back to AC Plus and the requesting system. This process increases flexibility and prevents any unnecessary costs, requests and delays.”

In addition, the AC Plus data model has been extended to fully support all financial instruments and their required reference data attributes for MiFID II. Furthermore, Asset Control has extended its integration with existing enterprise data providers to onboard all newly published MiFID II fields to provide its users an easy path to obtain required MiFID II data and flexibility in sourcing it from different providers.

Mark Hepsworth, CEO, Asset Control, concludes: “Asset Control’s new integration with DSB services will act as a bridge between requesting user systems and our existing, flagship AC Plus solution. In combination with its fully maintained data model and vendor integration, AC Plus will represent a holistic solution for the end to end tracking of master data, further emphasising our focus on helping to ensure that users are truly MiFID II ready.”