Q&A · ESMA

Fees charged to CCPs in relation to access to trading venues

Forwarded to the Commission

Read the official text on the ESMA website(opens in a new tab)

AI-generated Summary

Asks whether a trading venue applies 'the same schedule of fees and rebates' to all CCPs under Article 11 of RTS 15 where a closely linked CCP absorbs the venue's fees, making combined trading and clearing cheaper than with unaffiliated CCPs. ESMA forwarded it to the Commission; there is no answer yet.

Details

Reference	ESMA_QA_985
Issuer	ESMA
Published	30 May 2023
Submitted	30 May 2023
ESMA topics	Access to CCPs and trading venues

Provisions it relates to

Article 36 MiFIR · Non-discriminatory access to a trading venue
MiFIR
Inferred · 90%
MiFIR (whole act)
Explicit reference

Documents it refers to

RTSIn forceExplicit reference
Commission Delegated Regulation (EU) 2017/581 of 24 June 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to regulatory technical standards on clearing access in respect of trading venues and central counterparties
European Commission · 31 Mar 2017 · EUR-Lex
AI summaryRTS 15 on open access between CCPs and trading venues under Articles 35 and 36 MiFIR: limits the grounds on which access may be denied (volume, operational risk and complexity, other significant undue risks), sets when access must be granted, and requires non-discriminatory fees, collateral, netting and cross-margining treatment.