Over-the-counter (OTC) derivatives reference data provider the Derivatives Service Bureau (DSB) has expanded its universal payments interface (UPI) user acceptance testing (UAT) environment.
This comes in preparation of the UPI production launch, scheduled for October 2023. Users of the platform, which was initially launched 17 April 2023, will be able to use an updated OTC ISIN test platform ahead of the October release date.
User acceptance testing for OTC ISIN users enables the testing of combined OTC ISIN and UPI workflows. Clients will be able to develop and test changes to their systems, incorporating the UPI as part of the OTC ISIN record.
As part of the UPI onboarding process, clients can add affiliates and generate and download an auto-populated UPI Subscription Form for their legal teams. The DBS will complete UPI pre-population once the UPI service is launched in the production environment.
Emma Kalliomaki, managing director of the Association of National Numbering Agencies and the DSB, says: “Given the reporting requirements in EU and UK, which require reporting of OTC ISIN or UPI dependent on scope, the availability of the combined UPI and OTC ISIN data in UAT should further assist firms with their readiness for the forthcoming compliance dates.
“It is great that firms are already taking advantage of UAT and we encourage more to make the most of the benefits it can bring to planning and implementation.”
