The European Securities and Markets Authority (ESMA), the regulator of the EU's financial markets, today launched a public consultation on the revision of the Authorised Regulation under the European Market Infrastructure Regulation (EMIR) on fees charged to third country level central clearing institutions (CCPs).。

The purpose of this consultation is to gather stakeholder views on the appropriateness and possible impact of the following recommendations:

• Allocate annual fees among all accredited Tier 1 CCPs by weighting factors depending on their global turnover。
• Minimum basic annual fee of €50,000 and maximum annual fee of €250,000 per Tier 1 TC-CCP。
• Introduction of an incentive scheme for Tier 1 TC-CCP failing to submit annual audited turnover figures。

ESMA's recommendations aim to ensure that the annual fees charged to Tier 1 third-country central clearing houses are more reasonable and accurately reflect the differences in size and activities of all Tier 1 third-country central clearing houses。

Public consultation until 10 November 2023。Responses must be submitted using the form on the ESMA website。The feedback received will serve as a reference for ESMA to provide technical advice to the European Commission on amending the delegated regulation on charging third country CCPs。