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1. Home
2. Post Trade
3. Regulatory Reporting
4. LSEG's Regulatory Reporting Solutions
5. Regulatory Reporting EMIR
6. UKMIR Trade Repository Pricing
UKMIR TRADE REPOSITORY PRICING
2025 Pricing
1. 2023 Pricing
2. 2024 Pricing
3. 2025 Pricing
2023 PRICING
STANDARD UKMIR PRICING
VOLUME BANDS
# Lower band Upper band UTIs per band Price per UTI Price per band 1 0 2,000
2,000 Included in the licence fee 2 2001 100,000 98,000 £ 0.069525 £ 6,813.45 3
100,001 2,000,000 1,900,000 £ 0.041715 £ 79,258.50 4 2,000,001 18,805,185
16,805,185 £ 0.0069525 £ 116,838.05 5 18,805,186 Unlimited Unlimited £0 £0
PER ANNUM LICENCE FEE AND CAPS
Description Price UTIs included Fixed licence fee per account £ 3,090 2,000 Cap
non CCP £ 154,500 Unlimited CCP fixed fee
£ 200,000 Unlimited
DIRECT REPORTING
Direct reporting services are offered to firms who wish to contract directly
with Regulatory Reporting and are party to the transactions submitted. These
firms have access the Regulatory Reporting support model and will have full
access to Regulatory Reporting resources to facilitate their reporting.
FIRMS OWN REPORTING
SINGLE ENTITY OR GROUP
TR participants contracting with Regulatory Reporting for the purpose of
reporting their own legal entity’s reports (one reporting firm LEI) or multiple
legal entities of a same parent entity or group (multiple reporting firm LEI)
will be charged standard UKMIR pricing.
A fixed licence fee of £ 3,090 per annum will be charged per account.
Caps of £ 154,500 for non CCPs and £ 200,000 for CCPs per annum apply per
account.
HFTS / ETPS
High-frequency traders (HFTs) and electronic trading participants (ETPs)
contracting with Regulatory Reporting as TR participants will be charged a fixed
licence fee per account, per annum, based on the volume bands below. To qualify
as HFT/ETP more than 90% or reported volumes need to be from algorithmic
trading. Should the volume of UTIs exceed the volume band paid for, an
additional charge will apply.
A cap of £ 154,500 will apply.
RETAIL FLOW
To be classified as a retail client, the client will need to have not been
authorised or regulated by your respective competent authority to operate in the
financial market.
To qualify for retail flow, more than 90% of a HFT’s / ETP’s reportable volume
must be against individuals as clients.
Retail UTIs submitted will be charged per the below tariff bands for the retail
reporting firm LEIs.
The license fee (Retail price) is based on predicted volumes. The minimum
license fee is £ 51,500. If actual volume exceeds the predicted volume band,
there is an additional charge per UTI, as outlined below.
For example, a HFT with retail clients, predicts their volume per annum is
20,000,000. The HFT is charged £ 103,000. If actual volume is 26,000,000, there
will be an additional £ 2,575 (1,000,000 x 0.002575) charge.
# Volume p.a. (UTIs) Retail price Price per additional UTI 1 Up to 10,000,000 £
51,500 £ 0.00515 2 More than 10,000,000 and up to 15,000,000 £ 77,250 £ 0.00515
3 More than 15,000,000 and up to 25,000,000 £ 103,000 £ 0.00412 4 More than
25,000,000 and up to 50,000,000 £ 128,750 £ 0.002575 5 More than 50,000,000
£ 154,500 cap £ 0.00206
WHOLESALE FLOW
The wholesale flow is for HFTs / ETPs where they don’t qualify for retail flow.
Wholesale UTIs submitted will be charged per the below tariff bands for the
wholesale reporting firm LEIs.
The fixed license fee (Wholesale price) is based on predicted volumes. The
minimum license fee is £ 103,000. If actual volume exceeds the predicted volume
band, there is an additional charge per UTI, as outlined below.
For example, a HFT with institutional clients, predicts their volume per annum
is 25,000,000. The HFT is charged £ 123,600. If actual volume is 26,000,000,
there will be an additional £ 4,944 (1,000,000 x 0.004944) charge.
# Volume p.a. (UTIs) Wholesale price Price per additional UTI 1 Up to 21,000,000
£ 103,000 £ 0.004944 2 More than 21,000,000 and up to 25,000,000 £ 123,600
£ 0.004944 3 More than 25,000,000 £ 154,500 cap £ 0.004944
DELEGATED REPORTING
REPORT SUBMITTING ENTITIES
TR participants contracting with Regulatory Reporting for the purpose of
submitting their counterparties reports will be charged standard UKMIR pricing
as “delegated service provider” and will require explicit permission to submit
transaction reports on behalf of each reporting firm LEI.
If a report submitting firm submits below 50,000 UTIs a year, the delegated
service provider will be charged a small report submitting entity fee of £ 5,150
per annum. Above 50,000 UTIs a year, standard UKMIR pricing will apply starting
from £ 0.069525 per UTI.
If a report submitting firm submits above 750,000 UTIs a year, the delegated
service provider will be charged a standard report submitting entity fee of £
51,500 per annum and standard UKMIR pricing will apply starting from £ 0.041715
per UTI.
A cap of £ 154,500 per annum applies per delegated reporting client.
REPORTING FIRMS
Reporting firms which have delegated their reporting to a counterparty/clearer
submitting to Regulatory Reporting on their behalf, can be granted a view-only
access to their reports. These firms will be required to contract
with Regulatory Reporting and will be charged a fixed fee of £ 2,060 p.a.
COLLABORATIVE REPORTING
Collaborative reporting services are offered to firms who wish to contract
with Regulatory Reporting but are not party to the transactions submitted (third
parties).
TECHNICAL ROUTERS
Technical routers are third-party firms contracting with Regulatory Reporting as
ISV partners for the purpose of assisting their Clients in submitting reports.
Technical routers will be charged £ 2,060 per annum. Regulatory Reporting will
contract with the technical router’s clients as TR participants, which will be
offered direct reporting services and will be charged standard UKMIR pricing.
Technical routers clients grant their technical router access their secure file
transfer protocol account (incl. SSH key) to route their reports to Regulatory
Reporting. Technical routers may leverage access to their client’s data to offer
additional services outside of Regulatory Reporting's remit. It is worth noting
that a technical router client can only submit data via a single technical
router contracted with Regulatory Reporting.
Technical router clients have access to the Regulatory Reporting support model,
rules engine services and will have full access to Regulatory Reporting
resources to facilitate their reporting.
AGGREGATORS
Aggregators are high-volume third-party firms contracting with Regulatory
Reporting as TR participants for the purpose of submitting their clients
reports. Aggregators submit their client’s transaction reports in Regulatory
Reporting’s standard format and own the relationship with their clients,
including the right to amend data.
Aggregators will be charged a dedicated UKMIR pricing in accordance to the UTI
volume submitted by their retail or wholesale clients.
Aggregator clients must grant their aggregator explicit permission to report on
their behalf. Aggregator clients can be granted a view-only access to their
reports by contracting with Regulatory Reporting and will be charged a fixed fee
of £ 2,060 per annum. Aggregators may leverage access to their client’s data to
offer additional services outside of Regulatory Reporting’s remit.
Aggregator clients will however not have access to Regulatory Reporting support
model and rules engine services.
RETAIL FLOW PRICING
To qualify for retail flow, the majority (90% or more) of UTI’s submitted by an
aggregator must be in respect of trades executed on behalf of the aggregator’s
clients who are individuals (“Retail Clients”).
A fixed license fee of £ 103,000 per annum will be charged. This license fee
includes 1,623,092 retail UTIs per annum.
Additional UTIs submitted by an aggregator will be charged per the below tariff
for the retail reporting firm LEIs.
High volume aggregators will be capped at £ 206,000 per annum which is the
equivalent of 16,412,727 UTI’s per annum.
# Lower band Upper band UTIs per band Price per UTI Price per band 1 0 1,623,092
1,623,092 included in the license fee 2 1,623,093 2,000,000 376,908 £ 0.05665
£ 21,351.84 3 2,000,001 16,412,727 14,412,727 £ 0.005665 £ 81,648.09 4
16,412,728 Unlimited Unlimited £0 £0
WHOLESALE FLOW PRICING
The wholesale flow is for aggregators that do not qualify for retail flow.
A fixed license fee of £ 3,090 per annum will be charged. This license fee
includes 2,000 wholesale UTIs per annum.
Additional UTIs submitted by wholesale aggregator clients will be charged to
aggregators per the below tariff for the wholesale reporting firm LEIs.
# Lower band Upper band UTIs per band Price per UTI Price per band 1 0 2,000
2,000 Included in the licence fee 2 2,001 300,000 298,000 £ 0.0760346 £
22,658.31 3 300,001 2,000,000 1,700,000 £ 0.0625725 £ 106,373.25 4 2,000,001
20,000,000 18,000,000 £ 0.007416 £ 133,488.00 5 20,000,001 200,000,000
180,000,000 £ 0.001236 £ 222,480.00 6 200,000,001 Unlimited Unlimited
£ 0.00016686 No cap
SERVICE PROVIDERS
Service providers are very high-volume third-party firms contracting with the
Trade Repository. Service providers own the relationship with their clients
including the right to amend data, but service provider clients have access to
the Regulatory Reporting system and support model. No qualifying criteria,
anyone can request to be classified as a service provider.
The £ 540,750 annual fee consists of £ 360,500 base fee, and £ 180,250 for their
clients to have access to the Regulatory Reporting system and the Regulatory
Reporting Support team.
The total sum of UTIs submitted by all the Service Provider’s clients will be
charged to the Service Provider per the below tariff.
# Lower band Upper band UTIs per band Price per UTI Price per band 1 0
96,771,724 96,771,724 Included in the licence fee 4 96,771,725 200,000,000
103,228,276 £ 0.001236 £ 127,590.15 5 200,000,001 Unlimited Unlimited
£ 0.00016686 No cap
PORTABILITY
TR participants are able to seamlessly transfer their reporting to other TRs.
Porting services are offered in accordance with ESMA’s ‘Guidelines On
Portability Between Trade Repositories’ to firms contracted with Regulatory
Reporting and onboarded to production who wish to switch their live reporting
to Regulatory Reporting or to another TR.
Voluntary porting from other TRs to Regulatory Reporting
When a TR participant firm requires onboarding from another TR, standard UKMIR
pricing applies for the latest state of outstanding derivatives ported to
Regulatory Reporting. The volume of UTIs ported counts towards applicable
capping.
Additional Professional Services ("PS") days will be charged on a time and
material basis if the TR participant firms wants to transfer any other data to
Regulatory Reporting.
Voluntary porting from Regulatory Reporting to other TRs
When a TR participant firm requires offboarding from Regulatory Reporting,
billing will apply on a time and material basis at the applicable standard PS
daily rate.
TR withdrawal
In case of another TR withdrawing, fees relating to the voluntary porting from
other TRs to Regulatory Reporting will be charged to TR participants which
selected Regulatory Reporting as their new TR.
In case of Regulatory Reporting withdrawing, no fees can be charged for ensuring
the porting TR participant firms data to other TRs
LEI CHANGES
TR participants are able to request the update of LEIs of transactions they have
reported to Regulatory Reporting. This service offers the update of an old LEI
to a new LEI on historical TR records in accordance with ESMA’s QA on UKMIR
implementation (TR QA40), enabling seamless transition to reporting transactions
with the new LEI.
A £ 3,296 fixed fee is charged to account for up to 100,000 transaction reports
updated to cover Trade Repository costs related to administrative tasks, quality
assurance and notifications to the relevant competent authorities.
A further £ 206 is charged for each subsequent batch of 100,000 transaction
reports updated in the TR.
Standard UKMIR pricing will apply after the change has taken place for any
transaction reports submitted from activation date onwards.
ONBOARDING CHARGES
Each new UKMIR client will be charged an onboarding fee of £ 750.
This onboarding fee is waived for new clients who have contracted for an initial
term of 5 years or more.
2024 PRICING
STANDARD UKMIR PRICING
VOLUME BANDS
# Lower band Upper band UTIs per band Price per UTI Price per band 1 0 2,000
2,000 Included in the licence fee 2 2001 100,000 98,000 £ 0.071958 £ 7,051.88 3
100,001 2,000,000 1,900,000 £ 0.043175 £ 82,032.50 4 2,000,001 18,805,185
16,805,185 £ 0.007196 £ 120,930.11 5 18,805,186 Unlimited Unlimited £0 £0
PER ANNUM LICENCE FEE AND CAPS
Description Price UTIs included Fixed licence fee per account £ 3,198 2,000 Cap
non CCP £ 159,908 Unlimited CCP fixed fee £ 200,000 Unlimited
DIRECT REPORTING
Direct reporting services are offered to firms who wish to contract directly
with Regulatory Reporting and are party to the transactions submitted. These
firms have access to the Regulatory Reporting support model and will have full
access to Regulatory Reporting resources to facilitate their reporting.
FIRMS OWN REPORTING
SINGLE ENTITY OR GROUP
TR participants contracting with Regulatory Reporting for the purpose of
reporting their own legal entity’s reports (one reporting firm LEI) or multiple
legal entities of a same parent entity or group (multiple reporting firm LEI)
will be charged standard UKMIR pricing.
A fixed licence fee of £3,198 per annum will be charged per account.
Caps of £159,908 for non CCPs and £200,000 for CCPs per annum apply per account.
HFTS / ETPS
High-frequency traders (HFTs) and electronic trading participants (ETPs)
contracting with Regulatory Reporting as TR participants will be charged a fixed
licence fee per account, per annum, based on the volume bands below. To qualify
as HFT/ETP more than 90% or reported volumes need to be from algorithmic
trading. Should the volume of UTIs exceed the volume band paid for, an
additional charge will apply.
A cap of £159,908 will apply.
RETAIL FLOW
To be classified as a retail client, the client will need to have not been
authorised or regulated by your respective competent authority to operate in the
financial market.
To qualify for retail flow, more than 90% of a HFT’s / ETP’s reportable volume
must be against individuals as clients.
Retail UTIs submitted will be charged per the below tariff bands for the retail
reporting firm LEIs.
The license fee (Retail price) is based on predicted volumes. The minimum
license fee is £53,303. If actual volume exceeds the predicted volume band,
there is an additional charge per UTI, as outlined below.
For example, a HFT with retail clients, predicts their volume per annum is
25,000,000. The HFT is charged £106,605. If actual volume is 26,000,000, there
will be an additional £2,665 (1,000,000 x 0.002665) charge.
# Volume p.a. (UTIs) Retail price Price per additional UTI 1 Up to 10,000,000 £
53,303 £ 0.005330 2 More than 10,000,000 and up to 15,000,000 £ 79,954
£ 0.005330 3 More than 15,000,000 and up to 25,000,000 £ 106,605 £ 0.004264 4
More than 25,000,000 and up to 50,000,000 £ 133,256 £ 0.002665 5 More than
50,000,000 £ 159,908 cap £ 0.002132
WHOLESALE FLOW
The wholesale flow is for HFTs / ETPs where they don’t qualify for retail flow.
Wholesale UTIs submitted will be charged per the below tariff bands for the
wholesale reporting firm LEIs.
The fixed license fee (Wholesale price) is based on predicted volumes. The
minimum license fee is £106,605. If actual volume exceeds the predicted volume
band, there is an additional charge per UTI, as outlined below.
For example, a HFT with institutional clients, predicts their volume per annum
is 25,000,000. The HFT is charged £127,926. If actual volume is 26,000,000,
there will be an additional £5,117 (1,000,000 x 0.005117) charge.
# Volume p.a. (UTIs) Wholesale price Price per additional UTI 1 Up to 21,000,000
£ 106,605 £ 0.005117 2 More than 21,000,000 and up to 25,000,000 £ 127,926
£ 0.005117 3 More than 25,000,000 £ 159,908 cap £ 0.005117
DELEGATED REPORTING
REPORT SUBMITTING ENTITIES
TR participants contracting with Regulatory Reporting for the purpose of
submitting their counterparties reports will be charged standard UKMIR pricing
as “delegated service provider” and will require explicit permission to submit
transaction reports on behalf of each reporting firm LEI.
If a report submitting firm submits below 50,000 UTIs a year, the delegated
service provider will be charged a small report submitting entity fee of £5,330
per annum. Above 50,000 UTIs a year, standard UKMIR pricing will apply starting
from £0.071958 per UTI.
If a report submitting firm submits above 750,000 UTIs a year, the delegated
service provider will be charged a standard report submitting entity fee of
£53,303 per annum and standard UKMIR pricing will apply starting from £0.043175
per UTI.
A cap of £159,908 per annum applies per delegated reporting client.
REPORTING FIRMS
Reporting firms which have delegated their reporting to a counterparty/clearer
submitting to Regulatory Reporting on their behalf, can be granted a view-only
access to their reports. These firms will be required to contract with
Regulatory Reporting and will be charged a fixed fee of £2,132 p.a.
COLLABORATIVE REPORTING
Collaborative reporting services are offered to firms who wish to contract with
Regulatory Reporting but are not party to the transactions submitted (third
parties).
TECHNICAL ROUTERS
Technical routers are third-party firms contracting with Regulatory Reporting as
ISV partners for the purpose of assisting their clients in submitting reports.
Technical routers will be charged £2,132 per annum. Regulatory Reporting will
contract with the technical router’s clients as TR participants, which will be
offered direct reporting services and will be charged standard UKMIR pricing.
Technical routers clients grant their technical router access their secure file
transfer protocol account (incl. SSH key) to route their reports to Regulatory
Reporting. Technical routers may leverage access to their client’s data to offer
additional services outside of Regulatory Reporting’s remit. It is worth noting
that a technical router client can only submit data via a single technical
router contracted with Regulatory Reporting.
Technical router clients have access to the Regulatory Reporting support model,
rules engine services and will have full access to Regulatory Reporting
resources to facilitate their reporting.
AGGREGATORS
Aggregators are high-volume third-party firms contracting with Regulatory
Reporting as TR participants for the purpose of submitting their clients
reports. Aggregators submit their client’s transaction reports in Regulatory
Reporting’s standard format and own the relationship with their clients,
including the right to amend data.
Aggregators will be charged a dedicated UKMIR pricing in accordance to the UTI
volume submitted by their retail or wholesale clients.
Aggregator clients must grant their aggregator explicit permission to report on
their behalf. Aggregator clients can be granted a view-only access to their
reports by contracting with Regulatory Reporting and will be charged a fixed fee
of £2,132 per annum. Aggregators may leverage access to their client’s data to
offer additional services outside of Regulatory Reporting’s remit.
Aggregator clients will however not have access to Regulatory Reporting support
model and rules engine services.
RETAIL FLOW PRICING
To qualify for retail flow, the majority (90% or more) of UTI’s submitted by an
aggregator must be in respect of trades executed on behalf of the aggregator’s
clients who are individuals (“Retail Clients”).
A fixed license fee of £106,605 per annum will be charged. This license fee
includes 1,623,092 retail UTIs per annum.
Additional UTIs submitted by an aggregator will be charged per the below tariff
for the retail reporting firm LEIs.
High volume aggregators will be capped at £ 213,210 per annum which is the
equivalent of 16,412,727 UTI’s per annum.
# Lower band Upper band UTIs per band Price per UTI Price per band 1 0 1,623,092
1,623,092 included in the license fee 2 1,623,093 2,000,000 376,908 £ 0.058633
£ 22,099.25 3 2,000,001 16,412,727 14,412,727 £ 0.005863 £ 84,501.82 4
16,412,728 Unlimited Unlimited £0 £0
WHOLESALE FLOW PRICING
The wholesale flow is for aggregators that do not qualify for retail flow.
A fixed license fee of £3,198 per annum will be charged. This license fee
includes 2,000 wholesale UTIs per annum.
Additional UTIs submitted by wholesale aggregator clients will be charged to
aggregators per the below tariff for the wholesale reporting firm LEIs.
# Lower band Upper band UTIs per band Price per UTI Price per band 1 0 2,000
2,000 Included in the licence fee 2 2,001 300,000 298,000 £ 0.078696 £ 23,451.41
3 300,001 2,000,000 1,700,000 £ 0.064763 £ 110,097.10 4 2,000,001 20,000,000
18,000,000 £ 0.007676 £ 138,168.00 5 20,000,001 200,000,000 180,000,000
£ 0.001279 £ 230,220.00 6 200,000,001 Unlimited Unlimited £ 0.000173 No cap
SERVICE PROVIDERS
Service providers are very high-volume third-party firms contracting with the
Trade Repository. Service providers own the relationship with their clients
including the right to amend data, but service provider clients have access to
the Regulatory Reporting system and support model. No qualifying criteria,
anyone can request to be classified as a service provider.
The £559,676 annual fee consists of £373,118 base fee, and £186,559 for their
clients to have access to the Regulatory Reporting system and the Regulatory
Reporting Support team.
The sum of UTIs submitted by all the Service Provider’s clients will be charged
to the Service Provider per the below tariff.
# Lower band Upper band UTIs per band Price per UTI Price per band 1 0
96,771,724 96,771,724 Included in the licence fee 4 96,771,725 200,000,000
103,228,276 £ 0.001279 £ 132,028.97 5 200,000,001 Unlimited Unlimited £ 0.000173
No cap
PORTABILITY
TR participants are able to seamlessly transfer their reporting to other TRs.
Porting services are offered in accordance with ESMA’s ‘Guidelines On
Portability Between Trade Repositories’ to firms contracted with Regulatory
Reporting and onboarded to production who wish to switch their live reporting to
Regulatory Reporting or to another TR.
Voluntary porting from other TRs to Regulatory Reporting
When a TR participant firm requires onboarding from another TR, standard UKMIR
pricing applies for the latest state of outstanding derivatives ported to
Regulatory Reporting. The volume of UTIs ported counts towards applicable
capping.
Additional Professional Services (“PS) days will be charged on a time and
material basis if the TR participant firms wants to transfer any other data to
Regulatory Reporting.
Voluntary porting from Regulatory Reporting to other TRs
When a TR participant firm requires offboarding from Regulatory Reporting,
billing will apply on a time and material basis at the applicable standard PS
daily rate.
TR withdrawal
In case of another TR withdrawing, fees relating to the voluntary porting from
other TRs to Regulatory Reporting will be charged to TR participants which
selected Regulatory Reporting as their new TR.
In case of Regulatory Reporting withdrawing, no fees can be charged for ensuring
the porting TR participant firms data to other TRs.
LEI CHANGES
TR participants can request the update of LEIs of transactions they have
reported to Regulatory Reporting. This service offers the update of an old LEI
to a new LEI on historical TR records in accordance with ESMA’s QA on UKMIR
implementation (TR QA40), enabling seamless transition to reporting transactions
with the new LEI.
A £3,411 fixed fee is charged to account for up to 100,000 transaction reports
updated to cover Trade Repository costs related to administrative tasks, quality
assurance and notifications to the relevant competent authorities.
A further £213 is charged for each subsequent batch of 100,000 transaction
reports updated in the TR.
Standard UKMIR pricing will apply after the change has taken place for any
transaction reports submitted from activation date onwards.
ONBOARDING CHARGES
Each new UKMIR client will be charged an onboarding fee equivalent to half a
day’s Professional Services rate.
This onboarding fee is waived for new clients who have contracted for an initial
term of 5 years or more.
View-Only Onboarding
New view-only clients will be charged onboarding fees (Professional Services
rates) dependent on the number of firms submitting on their behalf.
Number of Submitting Firms Number of PS days chargeable 1 1 2-5 2 5+ 3
An additional 1-day Professional Services rate will be charged for MFT set-up.
2025 PRICING
DIRECT REPORTING
Direct reporting services are offered to firms who wish to contract directly
with Regulatory Reporting and are party to the transactions submitted. These
firms have access to the Regulatory Reporting support model and will have full
access to Regulatory Reporting resources to facilitate their reporting.
STANDARD UKMIR TRADE REPOSITORY PRICING
Trade Repository (‘TR’) participants contracting with Regulatory Reporting for
the purpose of reporting their own legal entity’s reports or multiple legal
entities of a same parent entity or group will be charged standard UKMIR
pricing.
Standard TR customers are charged a fixed licence fee of £3,250 per annum (which
includes 2,000 UTIs), plus the price per band based on the number of Unique
Trade Identifier contracts (UTIs) reported during a given year, as shown in the
following table.
# Minimum Volume
(per annum) Maximum Volume
(per annum) UTIs per band Price per UTI Price per band 1 0 2,000 2,000 Included
in the licence fee 2 2,001 100,000 98,000 £ 0.075000 £ 7,350 3 100,001 2,000,000
1,900,000 £ 0.045000 £ 85,500 4 2,000,001 10,000,000 8,000,000 £ 0.007500 £
60,000 5 10,000,001 20,000,000 10,000,000 £ 0.001000 £ 10,000 6 20,000,001
Unlimited Unlimited £0.000150 No cap applies
CCP’s can either elect to pre-pay a flat fee of £200,000 for unlimited reporting
or can be charged according to the uncapped standard banding above. Preferences
will be confirmed annually.
HFT/ETP UKMIR TRADE REPOSITORY PRICING
High-frequency traders (HFTs) and electronic trading participants (ETPs)
contracting with Regulatory Reporting as TR participants are defined as those
with more than 90% of reported volumes from algorithmic trading.
HFT/ETP TR customers are charged a fixed licence fee of £54,000 per annum (which
includes 10,000,000 UTIs), plus the price per band based on the number of Unique
Trade Identifier contracts (UTIs) reported during a given year, as shown in the
following table.
# Minimum Volume
(per annum) Maximum Volume
(per annum) UTIs per band Price per UTI Price per band 1 0 10,000,000 10,000,000
Included in the licence fee 2 10,000,001 15,000,000 5,000,000 £ 0.005200 £
26,000 3 15,000,000 25,000,000 10,000,000 £ 0.005000 £ 50,000 4 25,000,000
50,000,000 25,000,000 £ 0.001200 £ 30,000 5 50,000,001 Unlimited Unlimited
£ 0.000120 No cap applies
COLLABORATIVE REPORTING
Collaborative reporting services are offered to firms who wish to contract
directly with Regulatory Reporting and report on behalf of third parties. There
are several types of collaborative reporting outlined below.
DELEGATED
TR participants contracting with Regulatory Reporting for the purpose of
submitting their counterparties’ reports will be charged as a “delegated service
provider” per the following.
If a report submitting firm submits below 50,000 UTIs a year, the delegated
service provider will be charged a small report submitting entity fee of £5,330
per annum. Above 50,000 UTIs a year, standard UKMIR pricing will apply starting
from £0.071958 per UTI.
If a report submitting firm submits above 750,000 UTIs a year, the delegated
service provider will be charged a standard report submitting entity fee of
£53,303 per annum and standard UKMIR pricing will apply starting from £0.043175
per UTI.
For Delegated Reporting, a cap of £159,908 per annum applies per delegated
reporting client.
AGGREGATORS
Aggregators are high-volume third-party firms contracting with Regulatory
Reporting as TR participants for the purpose of submitting their client’s
reports. Aggregators submit their client’s transaction reports in Regulatory
Reporting’s standard format and own the relationship with their clients,
including the right to amend data.
Aggregator clients must grant their aggregator explicit permission to report on
their behalf. Aggregator clients will not have access to the Regulatory
Reporting support model, however may be granted View Only access to view their
reports in accordance with the associated fees (see View Only section below).
TR aggregators are charged a fixed licence fee of £106,605 per annum (which
includes 1,620,000 UTIs), plus the price per band based on the number of Unique
Trade Identifier contracts (UTIs) reported during a given year, as shown in the
following table.
# Minimum Volume
(per annum) Maximum Volume
(per annum) UTIs per band Price per UTI Price per band 1 0 1,620,000 1,620,000
Included in the license fee 2 1,620,001 2,000,000 380,000 £ 0.055000 £ 20,900 3
2,000,001 16,400,000 14,400,000 £ 0.005500 £ 79,200 4 16,400,001 Unlimited
Unlimited £0.000230 No cap applies
If wholesale volumes, defined as those coming from clients who have been
authorised or regulated by their respective competent authority in the financial
market, exceed 10% of an aggregator’s total volumes, the aggregator will incur
an additional fee of £0.003 per wholesale UTI.
VIEW ONLY
Reporting firms which have delegated their reporting to a counterparty/clearer
submitting to Regulatory Reporting on their behalf, can be granted View Only
access to their reports. View Only Plus includes our existing View Only offering
in addition to receiving end of day reports via Managed File Transfer (MFT). CSV
Conversion augments these end of day XML reports into CSV format. These firms
will be required to contract with Regulatory Reporting and will be charged fees
according to the tables presented below.
Clients with 5 or less report submitting entities
Product Price (per annum) Onboarding charge View only £ 6,000 1 Professional
Services Day View only plus £ 4,400 2 Professional Services Days View only plus
- with CSV Conversion £ 6,400 2 Professional Services Days
Clients with more than 5 report submitting entities
Product Price (per annum) Number of PS days chargeable View only £ 6,000 2
Professional Services Days View only plus £ 10,000 3 Professional Services Days
View only plus - with CSV Conversion £ 12,000 3 Professional Services Days
There will be an additional fixed price per additional domain added post
onboarding of £775.
SERVICE PROVIDERS
Service providers are very high-volume third-party firms contracting with
Regulatory Reporting. Service providers own the relationship with their clients
including the right to amend data, but service provider clients have access to
the Regulatory Reporting system and support model. No qualifying criteria
applies; anyone can request to be classified as a service provider.
A fixed fee of £559,677 per annum will be charged, consisting of a base fee of
£373,118, and a fee of £186,559 for their clients to have access to the
Regulatory Reporting system and support services.
In addition, the sum of UTIs submitted by all of the Service Provider’s clients
will be charged to the Service Provider per the below tariff.
# Minimum Volume
(per annum) Maximum Volume
(per annum) UTIs per band Price per UTI Price per band 1 0 96,771,724 96,771,724
Included in the licence fee 4 96,771,725 200,000,000 103,228,276 £ 0.001279 £
123,029 5 200,000,001 Unlimited Unlimited £ 0.000173 No cap applies
TECHNICAL ROUTERS
Technical routers are third-party firms contracting with Regulatory Reporting as
Independent Software Vendor (ISV) partners for the purpose of assisting their
clients in submitting reports. Technical routers will be charged £2,132 per
annum. Regulatory Reporting will contract with the technical router’s clients as
TR participants, which will be offered direct reporting services and will be
charged standard UKMIR pricing.
Technical routers clients grant their technical router access to their secure
file transfer protocol account (incl. SSH key) to route their reports to
Regulatory Reporting. A technical router client can only submit data via a
single technical router contracted with Regulatory Reporting.
Technical router clients have access to the Regulatory Reporting support model
and Regulatory Reporting resources to facilitate their reporting.
OPERATIONAL CONSIDERATIONS
ONBOARDING CHARGES
The daily rate for Professional Services (PS) is £1,600. Each new UKMIR client
will be charged an onboarding fee equivalent to half a day’s PS rate. This
onboarding fee is waived for new clients who have contracted for an initial term
of 5 years or more.
An additional 1-day PS rate will be charged for Managed File Transfer (MFT)
set-up.
View Only onboarding fees will be charged in accordance with the previously
outlined fees depending on the number of firms submitting on their behalf.
PORTABILITY
TR participants can transfer their reporting to other TRs. Porting services are
offered in accordance with ESMA’s ‘Guidelines On Portability Between Trade
Repositories’ to firms contracted with Regulatory Reporting who wish to switch
their live reporting to Regulatory Reporting or to another TR.
Voluntary porting from other TRs to Regulatory Reporting
When a TR participant firm requires onboarding from another TR, standard UKMIR
pricing applies for the latest state of outstanding derivatives ported to
Regulatory Reporting. The volume of UTIs ported counts towards applicable
capping.
Additional PS days will be charged on a time and material basis if the TR
participant firm elects to transfer any other data to Regulatory Reporting.
Voluntary porting from Regulatory Reporting to other TRs
When a TR participant firm requires offboarding from Regulatory Reporting,
billing will apply on a time and material basis at the applicable standard PS
daily rate.
TR withdrawal
In case of another TR withdrawing, fees relating to the voluntary porting from
other TRs to Regulatory Reporting will be charged to TR participants that select
Regulatory Reporting as their new TR.
In case of Regulatory Reporting withdrawing, no fees can be charged for ensuring
the porting TR participant firms data to other TRs.
LEI CHANGES
TR participants can request the updating of LEIs of transactions they have
reported to Regulatory Reporting. This service involves the updating of an old
LEI to a new LEI on historical TR records in accordance with ESMA’s QA on UKMIR
implementation (TR QA40), enabling a seamless transition to reporting
transactions with the new LEI.
A £3,411 fixed fee is charged for up to 100,000 transaction reports updated to
cover TR costs related to administrative tasks, quality assurance and
notifications to the relevant competent authorities.
A further £213 is charged for each subsequent batch of 100,000 transaction
reports updated in the TR.
Standard UKMIR pricing will apply after the change has taken place for any
transaction reports submitted from activation date onwards.
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