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Recital 7

Recital 7

(7)For the period between the date of authorisation of a CTP and the date when that CTP becomes operational, where those dates are different, a CTP should pay a supervisory fee based on a pro rata application of the fixed authorisation fee to cover the costs incurred by ESMA to (i) supervise the CTP’s preparatory activities during that period, in particular to ensure that appropriate contractual arrangements and effective digital interfaces are put in place with data contributors, (ii) to monitor and steer the CTP’s timely implementation of the relevant data ingestion and data availability functionalities, (iii) to assess the CTP’s technical readiness, and (iv) to monitor the onboarding of all parties concerned and their data.

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