On 27 February 2024, the European Securities and Markets Authority (ESMA) published a final report which takes into account the feedback provided by respondents to its earlier consultation paper on draft technical advice to the European Commission (Commission) on fees charged to Tier 1 third-country central counterparties (CCPs) under the European Market Infrastructure Regulation (EMIR).


Third country CCPs (TC-CCPs) are categorised depending on the level of risks they pose to the financial stability of the EU or one or more of its Member States either as a Tier 1 or Tier 2 TC-CCP. ESMA is required to charge fees to TC-CCPs established in third countries recognised or applying for recognition pursuant to Article 25 of EMIR. These fees shall be proportionate to the TC-CCP’s turnover and cover all costs incurred by ESMA for the recognition and the performance of its tasks in accordance with EMIR.  Following technical advice from ESMA, on 14 July 2020 the Commission adopted Commission Delegated Regulation (EU) 2020/1302 (the Fees Delegated Regulation), which further specifies the type of fees, the matters for which they are due, the amount of the fees and the manner they are to be paid by Tier 1 and Tier 2 CCPs. ESMA started collecting fees from TC-CCPs in 2020.

On 12 October 2023, ESMA published a consultation paper seeking views revisions to the Fees Delegated Regulation in relation to Tier 1 CCPs. The consultation ended on 8 December 2023. This final report takes into account the feedback to the consultation and provides ESMA’s updated technical advice to the Commission on the Fees Delegated Regulation. The Annexes to the final report also set out ESMA’s proposed amendments to the Fees Delegated Regulation.


ESMA proposes that the structure of the annual fee for Tier 1 CCPs be revised, in view of introducing a more proportionate approach via a weighting factor based on the global turnover of each Tier 1 CCP (as stated in EMIR). The 50,000 EUR recognition fee set out under Article 1 of the Fees Delegated Regulation is unchanged.

Next steps

ESMA will submit its technical advice to the Commission.