European Securities and Markets Authority Consults on 2021 Supervisory Fees for EU Trade Repositories

The European Securities and Markets Authority has published a consultation on its proposals for recalibrating the 2021 annual supervisory fees to be charged by ESMA to EU trade repositories. ESMA's annual fees are intended to cover its costs for supervising EU trade repositories, and to be proportionate to the turnover of the trade repository concerned.
 
The reference period for calculating the 2021 annual supervisory fees would normally be the trade repositories' applicable turnover between January to December 2020. However, following the end of the Brexit transition period on December 31, 2020, two U.K. trade repositories (DTCC and UnaVista) transferred part of their activities to the EU. This has significantly increased the volume of their EU trading activity for 2021. In order to reflect this in the 2021 fees they pay, ESMA proposes to amend the reference period for calculating the 2021 turnover of all EU trade repositories to January to June 2021.
 
Responses to the consultation should be submitted by March 9, 2021. If approved, the proposed amendments would be adopted in Q2 2021.
 
View details of ESMA's consultation.
 
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