The Derivatives Service Bureau (DSB) published its 2026 Industry Consultation Final Report on 17 July 2026, in which participants welcomed the DSB’s discovery-led approach to engaging with stakeholders, aimed at deepening the DSB’s understanding of its users and the broader ecosystem in which they operate.

A key principle of the DSB is to provide its UPI and OTC ISIN services on a cost-recovery basis, with costs allocated fairly among stakeholders. The 2026 Industry Consultation sought industry views on a range of related topics, including the fair allocation of cost recovery, potential fee tiering of the Distributor user type, and stakeholders’ willingness to engage with the DSB during this exploratory phase. To support the consultation, the DSB also hosted two stakeholder roundtable sessions on 24 June 2026 for end users and third-party service providers.

Feedback supported:

• A holistic review of the user model: the DSB’s user model will be reviewed holistically, supported by further engagement and analysis during 2026–2027.
• A clarified and expanded Distributor definition: broadening the definition of Distributor to capture derived, validation and display use cases, in addition to raw data redistribution.
• A dedicated Distributor and Intermediary engagement forum: there was strong support across the industry for creating a dedicated forum for Distributors and Intermediaries, reflecting agreement that third-party providers occupy a distinct position within the ecosystem.
• A fairer distribution of cost recovery: broad recognition of the objective of achieving a fairer distribution of cost recovery across the user base, given that the majority of users currently access DSB data free of charge.

Emma Kalliomaki, Managing Director of ANNA and the DSB, said: “Recognising how broad and varied the DSB user community has become, this year’s consultation engagement highlighted strong support for deeper stakeholder collaboration and insight into the ecosystem the DSB supports. As we enter a discovery-led phase of engagement, the feedback received will continue to shape the future evolution of our services, ensuring they remain aligned with stakeholder needs while continuing to uphold the principles of fairness, transparency and cost recovery.”

The DSB will continue to engage with stakeholders during 2026 and 2027 on factors such as the timeliness and content of free data, the possible extension of API access to a broader set of end users, clearer boundaries between different user types, and adequate lead time for the implementation of any substantial changes.

From 4 to 27 August 2026, the DSB will consult on proposed amendments to the DSB Main Terms and Policies, giving users the opportunity to provide feedback. The 2027 Main Terms and Policies will be published on 24 September 2026 and will apply from 1 January 2027.

You can read the Final Report on the DSB website: https://www.anna-dsb.com/download/dsb-2027-final-report/

Source: DSB