[ESMA70-872942901-38 ] Questions and Answers on MiFID II and MiFIR market structures topics

ESMA has published a new version of its Q&As „on MiFID II and MiFIR market structures topics“. Specially, the following two Q&As covering the access to TVs and the nondiscriminatory fees in Article 11 of RTS 15 in Part 6 of the document were added:

Question 8: To what extent can a trading venue apply different fee schedules to CCPs under Article 36 of MiFIR? Is it possible for a trading venue to apply different fee schedules depending on whether a CCP has close links to the trading venue? // page 67
Answer 8: While reasonable and non-discriminatory access must be ensured for CCPs, there may be different fees based on objective criteria, irrespective of the CCP’s relationship with the trading venue.

Question 9: Can a trading venue that has already granted access to a CCP charge new fees, whether one-off or ongoing, that were not agreed in the access arrangement, and if so, under which circumstances? // page 68
Answer 9: Trading venues can charge new fees if they are based on objective criteria, reasonable, justifiable, and cover costs incurred by the trading venue in maintaining or updating access arrangements. Any amendments to access agreements must follow the agreed procedure between the parties involved.