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In this act Article 6 of 17

Article 6 — Registration fee

Financial servicesLevel 2Delegated RegulationEMIRIn forceOfficial source

6(1)

1.The registration fee to be paid by individual applicant trade repositories shall be calculated according to the supervisory effort necessary for the assessment and examination of the application, as well as the expected total turnover of the trade repository as specified in paragraphs 2 to 6.

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6(2)

2.For the calculation of the registration fee, the following activities shall be taken into consideration:

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6(2)(a)
(a)the provision by the trade repository of ancillary services such as trade confirmation, trade matching, credit event servicing, portfolio confirmation or portfolio compression services;
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6(2)(b)
(b)the provision of repository services in three or more classes of derivatives by the trade repository.
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6(3)

3.For the purposes of paragraph 2, a trade repository shall be deemed to offer ancillary services in any of the following situations:

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6(3)(a)
(a)where it provides direct ancillary services;
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6(3)(b)
(b)where an entity belonging to the same group as the trade repository provides indirect ancillary services;
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6(3)(c)
(c)where an entity with which the trade repository has concluded an agreement in the context of the trading or post-trading chain or business line to cooperate in the provision of services provides the ancillary services.
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6(4)

4.Where a trade repository does not engage in either of the activities set out in paragraph 2, the trade repository concerned is deemed to have a low expected total turnover and shall pay a registration fee of EUR 45 000 .

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6(5)

5.Where a trade repository engages in one of the two activities set out in paragraph 2, the trade repository is deemed to have a medium expected total turnover and shall pay a registration fee of EUR 65 000 .

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6(6)

6.Where a trade repository engages in both activities set out in paragraph 2, the trade repository is deemed to have a high expected total turnover and shall pay a registration fee of EUR 100 000 .

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6a. Where a trade repository not already registered under Regulation (EU) 2015/2365 simultaneously submits applications for registration under both Regulation (EU) 2015/2365 and Regulation (EU) No 648/2012, the trade repository shall pay the full registration fee due under Regulation (EU) No 648/2012, and the fee for extension of registration pursuant to Article 5(5) of Regulation (EU) 2015/2365.

6(7)

7.In case of a material change in the provision of services, as a consequence of which the trade repository owes a higher registration fee pursuant to paragraphs 4, 5 and 6 than the registration fee paid initially, the trade repository shall be charged the difference between the initially paid registration fee and the higher applicable registration fee resulting from that material change.

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