On 12 October 2023, the European Securities and Markets Authority (ESMA) published a consultation paper on draft technical advice to the European Commission on fees charged to tier 1 third-country central counterparties (CCPs) under the European Market Infrastructure Regulation.

The purpose of the consultation is to gather stakeholders’ views on the appropriateness and on the likely impact of the following proposals:

  • Allocation of the annual fees among all recognized Tier 1 CCPs via a weighting factor which depends on their global turnover.
  • Introduction of a basic minimum annual fee of EUR 50,000 per Tier 1 third country CCP (TC-CCP) and a maximum annual fee of EUR 250,000.
  • Introduction of an incentive scheme for Tier 1 TC-CCPs failing to submit annual audited turnover figures.

The deadline for feedback to the consultation is 10 November 2023.