ANNA Authorizes Creation of New Service Bureau

November 1, 2000

The Association of National Numbering Agencies (ANNA) authorized the creation of a new "ANNA Service Bureau," to be managed by FISD members Standard & Poor's Corporation and Telekurs Financial, during the recent ANNA general meeting in Brussels.

The creation of the Service Bureau emphasizes ANNA's commitment to the requirements of STP and directly responds to many of the concerns FISD members have levied at ANNA -- quick allocation of ISINs, commitment to accuracy and full coverage, efficient/consolidated distribution, centralized customer support, simplified contracts and administrative requirements, quicker decision-making and complete adherence to ISO-6166 and ISIN guidelines.

According to our understanding, the ANNA Service Bureau will be responsible for the management and distribution of ISIN data to the global financial community using the existing infrastructure, brand name, operational support and customer service resources of S&P and Telekurs. The Bureau is expected to be operational by the 3rd quarter of 2001. The Service Bureau will take advantage of the technical resources and experience of S&P and Telekurs and should help improve cross-reference mapping of security identification codes, make basic security identification information available in a standard/usable format and improve industry coverage.

FISD has been in active discussions with ANNA on a host of issues related to ISIN and other primary identification numbers since May of last year. The goal of the discussions has been to get ANNA members to ensure timely electronic access to primary numbering information prior to settlement date-- on fair and equitable terms and conditions -- to meet the rapid movement to T+1 and STP.

We support and applaud ANNA for the steps they are taking to address the complete identification of financial instruments as well as those related to timely access and electronic dissemination of numbering information. We are encouraged by the creation of the ANNA Service Bureau as an efficient operational utility to meet the increasing requirements associated with ISIN assignment, maintenance and consolidated dissemination. We view the creation of the Service Bureau as an important first step in the creation of the informational infrastructure required for straight through processing -- and look forward to working with them on these critical issues in the months to come.