Recital 10

(10)Where a trade repository that has not yet been registered under Regulation (EU) No 648/2012 simultaneously submits applications for registration under both Regulation (EU) No 648/2012 and Regulation (EU) 2015/2365 of the European Parliament and the Council ⁶ , the expenditure necessary to accurately assess and examine the applications should be lower because of the synergies of reviewing the same type of documents. In the case of simultaneous applications, the trade repository should thus pay the full registration fee due under Regulation (EU) No 648/2012, and the reduced fee for extension of registration due under Regulation (EU) 2015/2365.