(3)Supervisory fees for CTPs should consist of a fixed authorisation fee and of an annual supervisory fee to cover all the costs associated with the tasks related to their authorisation and ongoing supervision. CTPs are authorised only once they have been selected in a competitive selection procedure, organised by ESMA in accordance with Articles 27da and 27db of Regulation (EU) No 600/2014. In consequence, when CTPs apply for authorisation, they will have already established a relationship with ESMA and therefore they should not be charged a separate application fee.