(5)In order to allow ESMA to charge fees to trade repositories in 2021 in a proportionate manner while covering all its cost related to their supervision, it is necessary to change the reference period for the calculation of annual fees paid by trade repositories to ESMA in 2021. Since the relevant trade repositories are registered with ESMA under both Regulations (EU) No 648/2012 and (EU) 2015/2365, the amendments to that reference period should be made at the same time.