An important factor in determining the direction of the DSB's services is the yearly industry consultation. In order for the DSB to continue serving the demands of its user community, stakeholders are invited to contribute and ensure that a wide range of perspectives are taken into account.

Timings are being announced ahead of time, as in past years, to allow market participants enough time to react. The industry will have until May 31, 2024, to submit replies to the consultation document, which is scheduled for publication on April 30, 2024. July 16, 2024, will see the publication of the Final Report. The DSB website has the complete timeline.

By concentrating on areas of the services that users have indicated for improvement and development, or to accommodate changing market trends and technology advancements, the consultation aids in the development of DSB services. This year's consultation will cover the new UPI services for the first time, which is especially pertinent given that G20 regulatory reporting requirements will go into effect in 2024 and 2025.
The following are important subjects that will be discussed: • User type functionality, including intermediates
• The Trading Venue on Traded (ToTV) Service
• Equitable distribution of costs among service offerings

The DSB Product Committee, the Technology Advisory Committee, and the newly established Governance Advisory Committee all contribute to the creation and implementation of OTC derivative identifier standards that support market interoperability.

In order to ensure that services continue to be relevant and adapt to the demands of the industry, the consultation, along with the ongoing complementary work of the DSB industry representation groups, is intended to give the DSB's diverse and wide-ranging user community a chance to contribute.

The DSB's Emma Kalliomaki, Managing Director of ANNA, stated: "We value everyone's continued participation and cooperation in forming DSB Services.
 

We understand that changing laws and market trends put a variety of demands on businesses' resources, which is why we provide advance notice of consultation milestones in order to encourage insightful feedback from our stakeholders. One of the DSB's primary priorities continues to be its dedication to offering services and standards for global OTC derivative identification that satisfy industry standards.