Fees & Rules 2017/2018

Fee Model Industry Feedback

2018 Consultation

Two industry consultations throughout May – August 2018 addressed changes to DSB service levels, DSB User fees and DSB User Agreement in 2019.

2017 Consultations

Two industry consultations throughout January – May 2017 addressed the proposed fee model for the numbering agency services of the ANNA Derivatives Service Bureau.

Consultation Paper Key themes

Strong support for principle of free and unrestricted access
Requests for a simplified, multi-asset class model
Merge the concept of ISIN users and ISIN creators – equitable distribution of fees
Requirement to address the needs of infrequent users
Fee model based on timeliness of access to data
Governance on costs and cost management
Re-evaluation of the fee model following data capture from a full year of production activity
Intermediary effect – end users to sign User Agreement & pay appropriate fee
Excess fee redistribution – Use of excess revenue to offset subsequent years’ fe

FEE BREAKDOWN 2017/2018

Separated by User Type

	REGISTERED FREE	INFREQUENT €3,000 per annum	STANDARD €37,500 per annum	POWER €112,500 per annum
Web Access
Real-time search for ISINs by identifier	✓	✓	✓	✓
Real-time search for ISINs by attributes	✓	✓	✓	✓
Maximum records returned per search	5	5	50	500
Create new ISINs	✕	✓	✓	✓
Maximum new ISINs	✕	100 per year	5,000 per year	Cap subject to AUP
File Download
Access to ISIN & product attributes archive (at end of day T-1)	✓	✓	✓	✓
ToTV/uToTV Flag	✓	✓	✓	✓
Programmatic Access (FIX API & ReST API)
Create new ISINs	✕	✕	✕	✓
Search for attributes by ISIN	✕	✕	✕	✓
Subscribe to today’s ISINs	✕	✕	✕	✓
Maximum number of API connections	✕	✕	✕	10

More Information

Fees shown are exclusive of VAT
DSB operates on a cost recovery basis. Annual user fees are derived using a fee model calculation, see Fee Variables
Users are able to upgrade their connectivity status at any time
Users are able to join the DSB at any time

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