2019 DSB Access and Usage Agreement Policies

The 2019 DSB Access and Usage Agreement and Policies have been finalised following incorporation of industry feedback that has been received over the last 12 months, including the 2019 consultation process as well as updates to content that was specific to the 2017-18 contract period and editorial corrections.

The changes to the DSB Access and Usage Agreement and Policies will become effective 1st January 2019.

Estimated 2019 Fees

The DSB provides numbering agency services on a cost recovery basis and, to the extent possible, levies fees through annual contracts that require payment in advance.

An early estimate of the DSB User fees for the 2019 calendar year is being provided in order to assist industry with the budgeting process. In accordance with the timeline announced in May 2018, final 2019 DSB fees will be published on 5th December 2018.

DSB 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 at the end of the first Working Day in December each year, as per the DSB Charges Policy.

Estimated DSB 2019 User Fees:

User Category 2018 User Fees 2019 Estimated User Fees
Infrequent User Fee €3,000 €3,000
Standard User Fee €37,500 €35,750
Power User Fee €112,500 €107,500

Notes:

  • 2019 Estimated User fees are based on the Estimated DSB 2019 Fee Variables shown below and exclude any applicable VAT.

Estimated DSB 2019 Fee Variables:

Fee Variable 2018 Estimate Value 2019 Estimate Value
Estimated Total DSB Cost €9.2m €8.8m
Number of Infrequent Users 15 25
Number of Standard Users 10 10
Number of Power Users 78 78

Notes:

  • The 2019 Estimated Total DSB Cost is composed of the individual components shown in the below table
  • The values for the 2019 user numbers are based on the number of contracts in force as of 30 September 2018. Final user numbers will be fixed at the end of the first Working Day in December and published on 5 December 2018.
  • The values for the 2018 user numbers are based on the number of contracts in force as of 5 January 2018

2019 Estimated Total DSB Cost:

2018 Projected Costs €9.2m No change since Jan 2018 projections
2019 Expected Cost Increases €549K Incorporating €382K service improvements requested by industry as well as incorporating inflation adjustment and increased transparency and market education initiatives
2017 Build Cost Adjustment -€250K Audited start-up costs were €5,101K versus original budget of €5,853K resulting in a €250K p.a. reduction in amortisation costs in each of 2019/2020/2021
2017 Q4 Operating Cost Adjustment -€687K Audited 2017 Q4 operating costs were below pro-rata revenue figures, resulting in €687K of excess income

Notes:

  • 2019 capital expenditure of €500K - €750K on improved functionality requested by industry will be financed directly by the DSB without recourse to 2019 user fees, with users incurring associated amortisation costs starting from the 2020 fee year for 4 years

Fee Model: Principles

Cost Recovery

The numbering agency services will be provided on a cost-recovery basis

Unrestricted Data

DSB ISINs and their associated data will have no licensing restrictions on usage and distribution

Open Access

Access to the DSB archive for consumption of OTC derivative ISINs and associated reference data will be available to all registered organizations and users

Payment in Advance

To the extent possible the DSB will levy fees through annual contracts that require payment in advance, in order to provide clarity in aligning fee levels with cost recovery