(4)The new Union trade repositories have effectively started their activity in the Union in January 2021, their level of activity in 2020 being almost non-existent. Their annual supervisory fee for 2021 would thus be negligible, although their activities are likely to be significant. To ensure that they pay a fee which is proportionate to their actual turnover in the Union, their annual supervisory fee for 2021 should be calculated on the basis of their applicable turnover during the first half of 2021.