NEW YORK, June 23, 2020 /PRNewswire/ -- 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 markets infrastructure by virtue of its reliability and widespread accessibility and the enhancements we will be making now will ensure that it continues to maintain that position for many years to come," said Marcus Müntener, Global Head of Customer Services & Data Operations, Financial Information, SIX. "We are pleased to be working with our partners at ANNA, CUSIP Global Services and all of the contributing numbering agencies around the world in continuing the success story of the ANNA Service Bureau, based on cloud and state-of-the-art technology."
For more information on the ANNA Service Bureau, please visit anna-web.org
About CUSIP Global Services
The financial services industry relies on CGS' unrivaled experience in uniquely identifying instruments and entities to support efficient global capital markets. Its extensive focus on standardization over the past 50 years has helped CGS earn its reputation as a trusted originator of quality identifiers and descriptive data, ensuring that essential front- and back-office functions run smoothly. Relied upon worldwide as the industry standard provider of reliable, timely reference data, CGS is also a founding member and co-operates the Association of National Numbering Agencies (ANNA) Service Bureau, a global security and entity identifier database for over 34 million public and privately traded instruments, contributed by 116 national numbering agencies providing ISIN coverage across more than 200 jurisdictions.. CGS is managed on behalf of the American Bankers Association (ABA) by S&P Global Market Intelligence, with a Board of Trustees that represents the voices of leading financial institutions. For more information, visit www.cusip.com.
SIX operates and develops infrastructure services in the Securities & Exchanges, Banking Services and Financial Information business units with the aim of raising efficiency, quality and innovative capacity across the entire value chain of the Swiss financial center. The company is owned by its users (122 banks). With a workforce of some 2,600 employees and a presence in 20 countries, it generated operating income of CHF 1.13 billion and Group net profit of CHF 120.5 million in 2019. www.six-group.com.
Established in 1992 by 22 founding numbering agencies, ANNA is the membership organisation of national numbering agencies, which are operated by depositories, exchanges, government agencies, nationally central data vendors and other financial infrastructure organisations. ANNA also serves as the registration authority for the ISIN and FISN standards, under appointment by the International Organization for Standardization (ISO).
Under ANNA's stewardship, the role of the ISIN in enabling global financial communications has been established worldwide. ISINs are issued today more than 200 jurisdictions worldwide. In addition, ANNA has developed the Derivatives Service Bureau (DSB), a fully automated global numbering agency to meet the operational and regulatory requirements of the over-the-counter derivatives markets. The number of national numbering agencies and nations working to establish national numbering agencies continues to grow each year, now surpassing 120 jurisdictions globally. For information about ANNA, its members and activities, please visit anna-web.org. For more information on the ANNA Service Bureau, please visit anna-web.org
About The American Bankers Association
The American Bankers Association represents banks of all sizes and charters and is the voice for the nation's $13 trillion banking industry and its 2 million employees. Learn more at www.aba.com.
SOURCE CUSIP Global Services