Commission Delegated Regulation (EU) 2024/1702 of 11 March 2024 amending Delegated Regulation (EU) No 1003/2013 as regards harmonisation of certain aspects of fees charged by the European Securities and Markets Authority to trade repositories

The fees charged to trade repositories shall cover: (a) all direct and indirect costs relating to the registration and supervision of trade repositories by ESMA in accordance with Regulation (EU) No 648/2012, including those costs resulting from the recognition of trade repositories; (b) all costs for the reimbursement of direct and indirect costs of competent authorities that have carried out work pursuant to Regulation (EU) No 648/2012, in particular as a result of any delegation of tasks in accordance with Article 74 of Regulation (EU) No 648/2012.’

1 Trade repositories registered under Regulation (EU) No 648/2012 shall keep audited accounts for the purposes of this Regulation which distinguish between the following: (a) revenues generated from core functions of centrally collecting and maintaining records of derivatives under Regulation (EU) No 648/2012; (b) revenues generated from ancillary services that are directly related to centrally collecting and maintaining records of derivatives under Regulation (EU) No 648/2012. The applicable revenues from ancillary services of the trade repository for a given year (n) shall be the revenues from the services determined under point (b).

2 Trade repositories registered under both Regulation (EU) No 648/2012 and Regulation (EU) 2015/2365 shall keep audited accounts for the purposes of this Regulation which distinguish between the following: (a) revenues generated from core functions of centrally collecting and maintaining records of derivatives under Regulation (EU) No 648/2012; (b) revenues generated from core functions of centrally collecting and maintaining records of securities financing transactions under Regulation (EU) 2015/2365; (c) revenues generated from ancillary services that are directly related to centrally collecting and maintaining records of derivatives under Regulation (EU) No 648/2012; (d) revenues generated from ancillary services that are directly related to both centrally collecting and maintaining records of derivatives under Regulation (EU) No 648/2012 and centrally collecting and maintaining records of securities financing transactions under Regulation (EU) 2015/2365. The applicable revenues from ancillary services of the trade repository for a given year (n) shall be the sum of: (a) the revenues referred to in point (c) of the first subparagraph; (b) a share of the revenues referred to in point (d) of the first subparagraph. The share of the revenues referred to in point (d) of the first subparagraph shall be equal to the revenues referred to in point (a) of that subparagraph, divided by the sum of: (a) the revenues referred to in point (a) of the first subparagraph; (b) the revenues referred to in point (b) of the first subparagraph.

3 The applicable turnover of a given trade repository for a given year (n) shall be the sum of the amounts referred to in point (a) and (b) of this paragraph, divided by the sum of the amounts referred to in points (c) and (d) of this paragraph: (a) the revenues generated from the core functions of centrally collecting and maintaining records of derivatives under Regulation (EU) No 648/2012 on the basis of the audited accounts of the year (n–2); (b) the applicable revenues from the ancillary services determined in accordance with paragraphs 1 and 2, as applicable, on the basis of the audited accounts of the year (n–2); (c) the total revenues of all registered trade repositories generated from the core functions of centrally collecting and maintaining records of derivatives under Regulation (EU) No 648/2012 on the basis of the audited accounts of the year (n–2); (d) the total applicable revenues of all registered trade repositories generated from the ancillary services determined in accordance with paragraph 1 and 2, as applicable, on the basis of the audited accounts of the year (n–2).

4 Trade repositories shall provide ESMA on an annual basis with the audited accounts referred to in paragraphs 1 and 2. Trade repositories shall submit those accounts to ESMA by electronic means by 30 September each year (n–1).

5 Where the trade repository did not operate during the full year (n–2), ESMA shall estimate the applicable turnover in accordance with paragraph 3 and by extrapolating the value calculated for the number of months during which the trade repository operated in year (n–2) to the whole year (n–2).

6 Where no audited accounts for year (n–2) are available, ESMA shall use the audited accounts for year (n–1).

7 Where the revenues referred to in paragraph 3 are reported in another currency than euro, ESMA shall convert those revenues into euro using the average euro foreign exchange rate applicable to the period during which those revenues were recorded. For that purpose, ESMA shall use the euro foreign exchange reference rate published by the European Central Bank.’

1 The annual supervisory fee referred to in Article 7 for a given year (n) shall be paid in a single instalment, which shall be due by the end of March of the year to which it relates. ESMA shall not reimburse the annual supervisory fee.

2 ESMA shall send the invoice specifying the amount of the annual supervisory fee to the trade repositories at least 30 calendar days before the payment date.

1 The recognition fees referred to in Article 8(1) shall be due at the time the trade repository applies for recognition under Article 77(1) of Regulation (EU) No 648/2012 and shall be paid in full within 30 calendar days from the date of issuance of ESMA’s invoice. ESMA shall not reimburse the recognition fee.

2 The annual supervisory fee for a recognised trade repository for a given year (n) shall be paid by the end of the third month of the calendar year for which such fee is due. ESMA shall send the invoice specifying the amount of the annual supervisory fee to the recognised trade repository at least 30 calendar days before the payment date.’

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. It shall apply from 1 January 2025.