The Derivatives Service Bureau 2020 Consultation Report – July results

Setting out industry feedback on needs for new and existing users, and next steps.

 The DSB has shared the latest 2020 Industry Consultation Report, highlighting the needs of new and existing users. This year’s consultation paper was published on Thursday 30th April, and industry had until Monday 1st June to respond, with the final results of the consultation being delivered on Wednesday 1st July.

This year’s consultation process sought to obtain industry feedback on a total of 7 potential changes to the service, based on user feedback received during the past 12 months. These included:

  • Functionality
    • The consultation sought feedback on end product participants and technical specialists, of being able to consume data into users’ own automated processes; enabling AI-driven robotic process automation.
    • It also sought to examine whether to create a new DSB ‘search only’ programmatic access for OTC ISIN data.
    • A further Functionality topic in the consultation relates to how users can access OTC ISIN data. At present, users can download all historical data through end of day files. The report sought to examine whether there is a broad call and need for ‘data snapshots’ for specific date ranges, in particular, to ease new DSB users’ access to OTC ISIN data.
  • Data Submission Enhancements
    • Data Enhancements examined in the consultation process have focused on whether the DSB should analyse enhancement of the OTC FISN, to reflect the industry’s needs based on lessons learned since the implementation of MiFID II more than two years ago.
  • Service Availability
    • The DSB consulted on whether industry would like a more structured format of notifications and updates, to help drive further functional efficiencies.
  • User Agreement
    • The consultation process and final report also look at a proposal to amend the DSB Governance Policy, in particular an amendment to the disputes resolution process, to reinforce parity and equal treatment of users. The feedback on this item will dovetail into the annual review of the DSB Access and Usage Agreement scheduled for later in the year.

This final report concludes that each proposal put forward received sufficient industry support to proceed. The report summarises industry feedback on each item and highlights cost estimates proposed, and sets out the terms of reference that will apply to the next steps. This approach is intended to provide users with enhanced transparency, while simultaneously optimising analysis efforts in 2021, thus delivering improved resource utilisation, alongside more general operational benefits. The full timeline is available on the DSB’s website.

Published by Elli Sperelaki

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