The European Securities and Markets Authority (ESMA) has published its advice to the European Commission following feedback received from the February consultation paper. The advice sets out the fees structure that ESMA will use to charge Trade Repositories
(TR) in order to recover all expenditure relating to registration and supervision of TRs and the reimbursement of any costs that competent authorities may have incurred.
For registration as a TR - ESMA proposes to levy specific administrative fees since they better represent and align with the workload for each TR.
For on-going supervision - ESMA proposes to charge a periodic annual fee proportionate to the level of turnover of the TR with a minimum fee of 30,000 Euros.
© Finextra Research 2014