The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, today launched a public consultation on the revision of the Delegated Regulation regarding fees charged to Tier 1 third country central counterparties (CCPs) under the European Market Infrastructure Regulation (EMIR).

The aim of this consultation is to gather stakeholders’ views on the appropriateness and on the likely impact of the following proposals:

• Allocation of the annual fees among all recognized Tier 1 CCPs via a weighting factor which depends on their global turnover.
• Introduction of a basic minimum annual fee of EUR 50,000 per Tier 1 TC-CCP, and a maximum annual fee of EUR 250,000.
• Introduction of an incentive scheme for Tier 1 TC-CCPs failing to submit annual audited turnover figures.

ESMA’s proposals aim to ensure that the annual fees charged to Tier 1 third country central counterparties (TC-CCPs) are more proportionate and accurately reflect the differences in size and activity across all Tier 1 TC-CCPs.

The public consultation is open until 10 November 2023. Responses must be submitted using the form available on ESMA’s website. The feedback received will feed into ESMA’s Technical Advice to the European Commission on changes to the Delegated Regulation on fees charged to third country CCPs.