Recital 2

(2)In accordance with Commission Delegated Regulation (EU) No 150/2013 ³ , where an applicant trade repository considers that a requirement of that Regulation is not applicable to it, it must clearly indicate that requirement in its application and provide an explanation why such requirement does not apply. Those requirements and explanations should be clearly identified in the application for registration or for extension of registration as trade repositories. References to the delegated act with regards to regulatory technical standards specifying the details of the application for registration of trade repositories in Implementing Regulation (EU) No 1248/2012 should therefore be replaced by references to Delegated Regulation (EU) No 150/2013.