CUSIP Global Services today announced the extension of its contract with the Association of National Numbering Agencies (ANNA), a global member association seeking to foster standardisation within the financial industry by upholding the International Organisation for Standardisation (ISO) principles and by promoting International Securities Identification Numbers (ISINs), Classification of Financial Instrument codes (CFIs), and Financial Instrument Short Names (FISN), for financial instruments.
CUSIP Global Services will serve as co-operator, along with SIX, of the ANNA Service Bureau through December of 2024. As part of the agreement, CUSIP Global Services and SIX will spearhead an extensive overhaul of the ANNA Service Bureau's underlying technology infrastructure to improve communication between contributors and ensure the highest standards of data quality.
The ANNA Service Bureau is a database containing global security and entity identifier data for over 34 million publicly traded instruments, contributed by a federated group of 116 national numbering agencies providing ISIN coverage across more than 200 jurisdictions. It was developed by a consortium of global numbering agencies to collect and disseminate industry-standard global identifiers, ISIN, FISN and CFI codes, via a common platform to meet the needs of market participants around the world. The ANNA Service Bureau is operated jointly by CUSIP Global Services and SIX.
"As founding members of ANNA, we are acutely aware of the vital role the organization plays in the global financial markets and we are honored to help lead this significant upgrade in its underlying technology and data quality assurance capabilities," said Scott Preiss, Managing Director and Global Head of CUSIP Global Services. "By migrating to a cloud-based architecture and making important interface improvements that will facilitate more seamless communication and data sharing between ANNA members and end-user market participants, we will ensure that the ANNA Service Bureau continues to be a beacon of reliability and certainty for many years to come."
Among the core areas of focus in the ANNA Service Bureau technology overhaul will be a migration of the platform to a cloud-based infrastructure, the development of a new interface with an integrated data quality dashboard, a data challenge and error logging system and enhanced search and download capabilities. All of these are designed to streamline data processing and improve communication between the federated group of national numbering agency contributors.
"Both CUSIP Global Services and SIX have developed impeccable track records over the course of our longstanding partnership, continually keeping us moving forward while also maintaining the most stringent data quality and reliability standards," said Dan Kuhnel, Chairman of the ANNA board of directors. "We are excited to embark on this new project to improve the reliability, resiliency and usability of our database, ultimately delivering higher quality reference data to the marketplace."
Development work on the enhancements to the ANNA Service Bureau has already started.
"The ANNA Service Bureau has become a critical component of global financial market