On 3 January 2024, the European Commission (Commission) published for consultation a draft Delegated Regulation as regards harmonisation of certain aspects linked to fees charged by the European Securities and Markets Authority (ESMA) to trade repositories, supplementing the European Market Infrastructure Regulation (EMIR).

ESMA charges fees to trade repositories in accordance with Commission Delegated Regulation (EU) 1003/2013, adopted pursuant to Article 72(3) of EMIR.

Following recommendations from the Internal Audit Service, the European Court of Auditors and technical advice provided by ESMA, the Commission is seeking to align certain technical aspects of the fee collection process across ESMA’s mandate.

The draft Delegated Regulation sets out certain amendments to Delegated Regulation (EU) 1003/2013 including that the amount of the registration fee for concurrent applications for registration under EMIR and the Securities Financing Transactions Regulation, the difference in the amount of fees charged to trade repositories, in case of a material change in the provision of their services, the legal reference on ESMA’s budget principles, the determination of the initial supervisory fee in the first year of the trade repository’s registration, the minimum amount of the annual supervisory fee and the amount and time of payment of the supervisory fee in the first year of its registration.

The deadline for comments on the draft delegated act is 31 January 2024.