UnaVista Trade Repository fees
UnaVista Ltd Trade Repository fees will be charged on a ‘per Unique Trade Identifier (UTI)’ basis with respect to the volume of UTIs submitted to the UnaVista Trade Repository. The price bandings for the number of submitted UTIs is shown below and is the same for both Over The Counter derivatives and Exchange Traded Derivatives. No annual membership fee is applied to firms using the UnaVista trade repository services.
Price per UTI (£)
- A minimum fee of £2,000 per annum applies to each LEI submitting data to the Trade Repository. This £2,000 fee includes 10,000 free UTIs to be submitted to UnaVista Trade Repository.
- A cap of £200,000 per annum will apply to clients reporting directly to the trade repository for their own entity only.
- A cap of £300,000 per annum will apply to clients reporting directly to the trade repository on behalf of multiple entities within the same group.
An additional 25% maintenance charge will apply to all UTIs submitted to the UnaVista trade repository. This maintenance fee is in place to cover the cost of processing lifecycle events, daily valuation fields and any requirement to modify positions. By charging a maintenance fee, hidden costs associated with the aforementioned trade events are avoided. This maintenance fee does not apply to the capped fees as described above.
Clients reporting on behalf of 3rd parties (Delegated reporting)
Firms may report on behalf of their counterparties or even an entity that is not their counterparty (usually in capacity of Third Party Administrator). A minimum fee of £2,000 per annum will apply to each legal entity using the delegated reporting service. This £2,000 fee includes 10,000 free UTIs to be submitted to the UnaVista Trade Repository.
The submitting firm will be charged on a per UTI basis as with single entity reporting. A 25% maintenance charge will apply to the fee for each entity using the delegated reporting service, i.e. if firm A and firm B delegate reporting of 500,000 and 1 million trades annually, they will be charged a maintenance fee of 25% of the cost of these volumes. All fees will be billed to the delegated reporting service provider.
A cap of £300,000 per annum applies to delegated reporting service providers.
Service providers that offer clients a service that collates their data and routes it in the correct format to the clients chosen ESMA approved TR, may interface with the UnaVista Trade Repository. UnaVista Ltd will therefore offer this service provider licence to any organisation, provided that the service provider compiles their clients data into the standard UnaVista format, and that they own the relationship with their clients, including the ability to amend data.
UnaVista Ltd will charge service providers the same Trade Repository licence fees as client reporting on their own behalf. For example, if reporting on behalf of a single client, the charge will go through standard UnaVista Trade Reporting volume bands and be capped at £200,000. Should the service provider report on behalf of multiple clients, the total annual charge will be capped at £300,000.
Alternatively, the service provider fees will be waived in full where their clients contract directly with UnaVista Ltd.
Small volume delegated reporting:
- Minimum annual charge: £5,000 includes 50,000 free UTIs with no limit on the number of reporting firm LEIs.
- Once the client exceeds 50,000 combined UTIs they will follow the standard pricing bandings (ie. starting at £0.05). The 25% maintenance charge is applied to all transaction charges.
- Once the customer exceeds 221,000 UTIs per annum they are no longer considered a small volume client and our standard delegated reporting pricing applies.
There will be no charges for pre go-live back reporting. Subsequent replay transactions will be charged on a per UTI basis in line with the standard pricing model.
Entities that rely on CCP’s for their valuation data will be contracted with UnaVista and will submit their own valuation fields themselves. The counterparty relying on valuation data from the CCP will be charged in line with UnaVista’s standard fee model.
In the situation where a CCP offers to report counterparty, common and valuation data on behalf of a counterparty, they will be charged in line with firms offering a delegated reporting service.
Fees for both Over The Counter Derivatives and Exchange Traded Derivatives will commence on the beginning of the first day of reporting. UnaVista gives clients the option to start reporting up to a week prior to the EMIR go-live date (12th February 2014); entities will be charged commencing the submission of their first report to UnaVista Trade Repository.
Maintenance fees for all firms but CCPs will commence at the beginning of the first day that an entity chooses to start reporting. For CCPs providing only valuation data submission, entities will be charged commencing the submission of their first valuation report to UnaVista Trade Repository.
Open Trades Charge
*Applicable from 01/01/2016 with first reference date being 31/12/2015.
Additional charge of £0.005 per open trade as at 31 December and 30 June every year will be applied to open trades in excess of 5,000 at the reference dates. The additional fee has been introduced in line with our initiative to incentivise clients to correctly terminate outstanding trades and in line with the methodology used to calculate our annual supervisory fees.
We do not intend to impose the additional fee to clients with up to 5,000 open trades at the reference dates.
UnaVista Trade Repository fees are transparent and non-discriminatory.
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