On 3 January 2024, the European Commission (Commission) published for consultation a draft Delegated Regulation amending Delegated Regulation (EU) 2019/360 as regards harmonisation of certain aspects linked to fees charged by the European Securities and Markets Authority (ESMA) to trade repositories.

ESMA charges fees to trade repositories under the Securities Financing Transactions Regulation (SFTR) in accordance with Commission Delegated Regulation (EU) 2019/360.

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.

In the draft delegated act, certain amendments will be made to Commission Delegated Regulation (EU) 2019/360 including that the scope of costs (direct and indirect) to be fully covered by fees and the definition of applicable turnover of trade repositories, on the basis of the audited accounts of the relevant reference year and the conversion in euro of audited accounts provided in currencies other than the euro.

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