DSB operates on a cost recovery basis where annual user fees recover the Total DSB Costs. Annual user fees are derived using a fee model calculation which comprises the variables Total DSB Cost, Number of Infrequent Users, Number of Standard Users and Number of Power Users fixed no later than the end of the first Working Day in December each year, as per the DSB Charges Policy.
2021 Fee Model Variables:
The DSB currently provides access to OTC ISIN data to more than 500 organisations, across 33 jurisdictions, of which 75% consume the data free of charge. Following user feedback, the fee model determination period was brought forward from December to October to better align with users’ budgetary processes.
Fee paying user numbers have remained broadly stable since December 2019, with 124 fee paying users as of 5 October 2020. The below Fee Model Variables table will be updated quarterly:
|Fee Variable||Value as at 5 Oct 2020||Values as at 31 Dec 2020||Values as at 31 Mar 2021||Values as at 30 Jun 2021|
|Estimated Total DSB Cost||€10.49m||€10.49m||€10.49m||€10.49m|
|Number of Infrequent Users||38||39||42||44|
|Number of Standard Users||11||11||11||11|
|Number of Power Users||75||77||77||79|
2021 Estimated Total DSB Cost
Annual user fees recover the DSB overhead costs which include a 20% margin for financial sustainability. The DSB 2021 Estimated Total DSB Cost reflects the normal and expected yearly adjustments, such as inflation, in addition to service evolution activity resulting from the 2020 industry annual consultation process. This includes functionality to support new user types for read only API and bespoke data downloads. Additional infrastructure costs are also included to support the UK ToTV service following Brexit.
In accordance with the DSB Charges Policy, Excess Fee Income resulting from additional contracts as well as operating cost efficiencies, go to defraying the Estimated Total DSB Cost for the contract year following the audited statutory accounts.
The DSB’s continued focus on cost-efficiency has resulted in operating expenditure of €168K below the 2019 budget. This saving, together with an additional €254K of revenue above the 2019 revenue expectations, due to intra-year new user agreements, has resulted in an Excess Fee Income reduction of €422K
The tables below show the breakdown of the 2021 Estimated Total DSB Cost upon which the 2021 annual user fees were calculated and include the 20% margin for financial sustainability:
|Technology & Operations||Operation of the DSB platform including technical and asset class support||€7,001K|
|Management||Senior management team including MD, MSP management team and CFO||€840K|
|Administration||Administrative costs and overheads such as office space, travel and expenses and administrative support functions||€950K|
|External consultants||External oversight, legal, professional & stakeholder outreach||€510K|
|Previous Year Operating Expenditure Adjustment||Excess Fee Income reduction based on the DSB Statutory Accounts 2019||-€422K|
|Build Costs / Capex||Amortization of build costs 2016-2019||€1,553K|
|Financing cost||Start-up loan interest costs repaid over 4 years||€60K|
2020 Fee Model Variables:
The DSB currently provides access to OTC ISIN data for more than 470 organisations, across 33 jurisdictions, of which 70% consume the data free of charge. Fee paying user numbers have remained broadly stable since December 2018, with 122 fee paying users in December 2019.
Moving into its third year of operations, the DSB 2020 Total DSB Cost Forecast reflects the normal and expected yearly adjustments such as inflation, as well as uplift related to industry approved services from 2019 such as a second UAT environment which includes the related ongoing maintenance and operational costs, additional capital expenditure amortization costs which remain in line with forecasts, support for stakeholder education activities to continue the commitment to data alignment and workflow efficiency, as well as additional research and analysis requested by industry during the annual consultation process.
|Fee Variable||2020 Value as at 2 Dec 2019||Values as at 31st Mar 2020||Values as at 30th Jun 2020|
|Total DSB Cost Forecast||€10.16m||€10.16m||€10.16m|
|Number of Infrequent Users||37||41||41|
|Number of Standard Users||12||12||12|
|Number of Power Users||73||74||75|
2020 Total DSB Cost Forecast
Annual user fees recover the DSB overhead costs. The tables below show the breakdown of the 2020 Total DSB Cost Forecast upon which the 2020 annual user fees were calculated.
Excess revenues resulting from additional contracts and operating cost efficiencies go to defraying the Total DSB Cost Forecast for the next contract year. Costs include a 20% margin for financial sustainability:
|Technology & Operations||Operation of the DSB platform including technical and asset class support||€7,109K|
|Management||Senior management team including MD, MSP management team and CFO||€975K|
|Administration||Administrative costs and overheads such as office space, travel and expenses and administrative support functions||€894K|
|External consultants||External oversight, legal, professional & stakeholder outreach||€555K|
|Previous Year Operating Expenditure Adjustment||Excess Fee Income reduction based on the DSB Statutory Accounts 2018||-€1,108K|
|Build Costs / Capex||Amortization of build costs 2016-2019||€1,498K|
|Financing cost||Start-up loan interest costs repaid over 4 years||€240K|
2019 Fee Model Variables:
|Fee Variable||2019 Value as at 3 Dec 2018||Values as at 31st Mar 2019||Values as at 30th Jun 2019||Values as at 30th Sep 2019|
|Total DSB Cost Forecast||€9.14m||€9.14m||€9.14m||€9.14m|
|Number of Infrequent Users||29||32||34||37|
|Number of Standard Users||12||12||12||12|
|Number of Power Users||73||74||75||75|
2018 Fee Model Variables:
|Fee Variable||2018 Value as at 5 Jan 2018|
|Estimated Total DSB Cost||€9.2m|
|Number of Infrequent Users||15|
|Number of Standard Users||10|
|Number of Power Users||78|