Published date: 19 December 2016

ESMA consults on supervision fees for trade repositories under SFTR and EMIR

The European Securities and Markets Authority (ESMA) has published a consultation paper on draft technical advice to the European Commission on formulating an EU Regulation on ESMA’s fees for Trade Repositories (TRs) under the Securities Financing Transactions Regulation (SFTR). ESMA, in order to ensure level playing field across EMIR and SFTR, is also proposing some changes to the way ESMA’s fees for TRs under EMIR are calculated.

ESMA is required by law to charge TRs fees which are proportionate to the turnover of the trade repository concerned and which fully cover ESMA’s expenditure relating to the registration, recognition and supervision as well as the reimbursement of any costs that the competent authorities may incur.

Similarly to EMIR, ESMA proposes a mixed system of levying fees on specific administrative actions such as registration, extension of registration or recognition, and an annual fee for on-going supervision which is proportionate to the level of turnover of