UnaVista UKMIR Trade Repository Pricing

UnaVista UKMIR Trade Repository Pricing

Standard UKMIR pricing

Volume bands

#

Lower band

Upper band

UTIs per band

Price per UTI

Price per band

1

0

2,000

2,000

Included in the licence fee

2

2,001

100,000

98,000

£ 0.0675

£ 6,615.00

3

100,001

2,000,000

1,900,000

£ 0.0405

£ 76,950.00

4

2,000,001

18,805,185

16,805,185

£ 0.00675

£ 113,435.00

5

18,805,186

Unlimited

Unlimited

£0

£0

Per annum licence fee and caps

Description

Price

UTIs included

Fixed licence fee per account

£ 3,000

2,000

Cap non CCP

£ 150,000

Unlimited

Cap CCP

£ 200,000

Unlimited

 

Direct Reporting

Direct reporting services are offered to firms who wish to contract directly with UnaVista and are party to the transactions submitted. These firms have access the UnaVista support model and will have full access to UnaVista resources to facilitate their reporting.

Firms own reporting

Single entity or group

TR participants contracting with UnaVista for the purpose of reporting their own legal entity’s reports (one reporting firm LEI) or multiple legal entities of a same parent entity or group (multiple reporting firm LEI) will be charged standard UKMIR pricing.

A fixed licence fee of £ 3,000 per annum will be charged per account.

Caps of £ 150,000 for non CCPs and £ 200,000 for CCPs per annum apply per account.

HFTs / ETPs

High-frequency traders (HFTs) and electronic trading participants (ETPs) contracting with UnaVista as TR participants will be charged a fixed licence fee per account, per annum, based on the volume bands below. To qualify as HFT/ETP more than 90% or reported volumes need to be from algorithmic trading. Should the volume of UTIs exceed the volume band paid for, an additional charge will apply.

A cap of £ 150,000 will apply.

Retail flow

To be classified as a retail client, the client will need to have not been authorised or regulated by your respective competent authority to operate in the financial market.

To qualify for retail flow, more than 90% of a HFT’s / ETP’s reportable volume must be against individuals as clients.

Retail UTIs submitted will be charged per the below tariff bands for the retail reporting firm LEIs.

The license fee (Retail price) is based on predicted volumes. The minimum license fee is £ 50,000. If actual volume exceeds the predicted volume band, there is an additional charge per UTI, as outlined below.

For example, a HFT with retail clients, predicts their volume per annum is 20,000,000. The HFT is charged £ 100,000. If actual volume is 26,000,000, there will be an additional £ 2,500 (1,000,000 x 0.0025) charge.

#

Volume p.a. (UTIs)

Retail price

Price per additional UTI

1

Up to 10,000,000

£ 50,000

£ 0.005

2

More than 10,000,000 and up to 15,000,000

£ 75,000

£ 0.005

3

More than 15,000,000 and up to 25,000,000

£ 100,000

£ 0.004

4

More than 25,000,000 and up to 50,000,000

£ 125,000

£ 0.0025

5

More than 50,000,000

£ 150,000 cap

£ 0.002

Wholesale flow

The wholesale flow is for HFTs / ETPs where they don’t qualify for retail flow. 

Wholesale UTIs submitted will be charged per the below tariff bands for the wholesale reporting firm LEIs.

The fixed license fee (Wholesale price) is based on predicted volumes. The minimum license fee is £ 100,000. If actual volume exceeds the predicted volume band, there is an additional charge per UTI, as outlined below.

For example, a HFT with institutional clients, predicts their volume per annum is 25,000,000. The HFT is charged £ 120,000. If actual volume is 26,000,000, there will be an additional £ 4,800 (1,000,000 x 0.0048) charge.

#

Volume p.a. (UTIs)

Wholesale price

Price per additional UTI

1

Up to 21,000,000

£ 100,000

£ 0.0048

2

More than 21,000,000 and up to 25,000,000

£ 120,000

£ 0.0048

3

More than 25,000,000

£ 150,000 cap

£ 0.0048

 

Delegated reporting

Report submitting entities

TR participants contracting with UnaVista for the purpose of submitting their counterparties reports will be charged standard UKMIR pricing as “delegated service provider” and will require explicit permission to submit transaction reports on behalf of each reporting firm LEI.

If a report submitting firm submits below 50,000 UTIs a year, the delegated service provider will be charged a small report submitting entity fee of £ 5,000 per annum. Above 50,000 UTIs a year, standard UKMIR pricing will apply starting from £ 0.0675 per UTI.

If a report submitting firm submits above 750,000 UTIs a year, the delegated service provider will be charged a standard report submitting entity fee of £ 50,000 per annum and standard UKMIR pricing will apply starting from £ 0.0405 per UTI.

A cap of £ 150,000 per annum applies per delegated reporting client.

Reporting firms

Reporting firms which have delegated their reporting to a counterparty/clearer submitting to UnaVista on their behalf, can be granted a view-only access to their reports. These firms will be required to contract with UnaVista and will be charged a fixed fee of £ 2,000 p.a.

Collaborative reporting

Collaborative reporting services are offered to firms who wish to contract with UnaVista but are not party to the transactions submitted (third parties).

Technical routers

Technical routers are third-party firms contracting with UnaVista as ISV partners for the purpose of assisting their Clients in submitting reports. Technical routers will be charged £ 2,000 per annum. UnaVista will contract with the technical router’s clients as TR participants, which will be offered direct reporting services and will be charged standard UKMIR pricing.

Technical routers clients grant their technical router access their secure file transfer protocol account (incl. SSH key) to route their reports to UnaVista. Technical routers may leverage access to their client’s data to offer additional services outside of UnaVista’s remit. It is worth noting that a technical router client can only submit data via a single technical router contracted with UnaVista.

Technical router clients have access to the UnaVista support model, rules engine services and will have full access to UnaVista resources to facilitate their reporting.

Aggregators

Aggregators are high-volume third-party firms contracting with UnaVista as TR participants for the purpose of submitting their clients reports. Aggregators submit their client’s transaction reports in UnaVista’s standard format and own the relationship with their clients, including the right to amend data.

Aggregators will be charged a dedicated UKMIR pricing in accordance to the UTI volume submitted by their retail or wholesale clients.

Aggregator clients must grant their aggregator explicit permission to report on their behalf. Aggregator clients can be granted a view-only access to their reports by contracting with UnaVista and will be charged a fixed fee of £ 2,000 per annum. Aggregators may leverage access to their client’s data to offer additional services outside of UnaVista’s remit.

Aggregator clients will however not have access to UnaVista support model and rules engine services.

Retail Flow Pricing

To qualify for retail flow, the majority (90% or more) of UTI’s submitted by an aggregator must be in respect of trades executed on behalf of the aggregator’s clients who are individuals (“Retail Clients”).

A fixed license fee of £ 100,000 per annum will be charged. This license fee includes 1,623,092 retail UTIs per annum.

Additional UTIs submitted by an aggregator will be charged per the below tariff for the retail reporting firm LEIs.

High volume aggregators will be capped at £ 200,000 per annum which is the equivalent of 16,412,727 UTI’s per annum.

#

Lower band

Upper band

UTIs per band

Price per UTI

Price per band

1

0

1,623,092

1,623,092

included in the license fee

2

1,623,093

2,000,000

376,908

£ 0.055

£ 20,729.94

3

2,000,001

16,412,727

14,412,727

£ 0.0055

£ 79,269.99

4

16,412,728

Unlimited

Unlimited

£0

£0

 

Wholesale Flow Pricing

The wholesale flow is for aggregators that do not qualify for retail flow.

A fixed license fee of £ 3,000 per annum will be charged. This license fee includes 2,000 wholesale UTIs per annum.

Additional UTIs submitted by wholesale aggregator clients will be charged to aggregators per the below tariff for the wholesale reporting firm LEIs.

#

Lower band

Upper band

UTIs per band

Price per UTI

Price per band

1

0

2,000

2,000

Included in the licence fee

2

2,001

300,000

298,000

£0.07382

£21,998.36

3

300,001

2,000,000

1,700,000

£ 0.06075

£ 103,275

4

2,000,001

20,000,000

18,000,000

£ 0.0072

£ 129,600

5

20,000,001

200,000,000

180,000,000

£ 0.0012

£ 216,000

6

200,000,001

Unlimited

Unlimited

£ 0.000162

No cap

 

Service providers

Service providers are very high-volume third-party firms contracting with the Trade Repository. Service providers own the relationship with their clients including the right to amend data, but service provider clients have access to the UnaVista system and support model. No qualifying criteria, anyone can request to be classified as a service provider. 

The £ 525,000 annual fee consists of £ 350,000 base fee, and £ 175,000 for their clients to have access to the UnaVista system and the UnaVista Support team.

The total sum of UTIs submitted by all the Service Provider’s clients will be charged to the Service Provider per the below tariff.

#

Lower band

Upper band

UTIs per band

Price per UTI

Price per band

1

0

96,771,724

96,771,724

Included in the licence fee

4

96,771,725

200,000,000

103,228,276

£ 0.0012

£ 123,873.93

5

200,000,001

Unlimited

Unlimited

£ 0.000162

No cap

 

Portability

TR participants are able to seamlessly transfer their reporting to other TRs. Porting services are offered in accordance with ESMA’s ‘Guidelines On Portability Between Trade Repositories’ to firms contracted with UnaVista and onboarded to production who wish to switch their live reporting to UnaVista or to another TR.

Voluntary porting from other TRs to UnaVista

When a TR participant firm requires onboarding from another TR, standard UKMIR pricing applies for the latest state of outstanding derivatives ported to UnaVista. The volume of UTIs ported counts towards applicable capping.

Additional Professional Services (“PS) days will be charged on a time and material basis if the TR participant firms wants to transfer any other data to UnaVista.

Voluntary porting from UnaVista to other TRs

When a TR participant firm requires offboarding from UnaVista, billing will apply on a time and material basis at the applicable standard PS daily rate.

TR withdrawal

In case of another TR withdrawing, fees relating to the voluntary porting from other TRs to UnaVista will be charged to TR participants which selected UnaVista as their new TR.

In case of UnaVista withdrawing, no fees can be charged for ensuring the porting TR participant firms data to other TRs.

LEI changes

TR participants are able to request the update of LEIs of transactions they have reported to UnaVista. This service offers the update of an old LEI to a new LEI on historical TR records in accordance with ESMA’s QA on UKMIR implementation (TR QA40), enabling seamless transition to reporting transactions with the new LEI.

A £ 3,200 fixed fee is charged to account for up to 100,000 transaction reports updated to cover Trade Repository costs related to administrative tasks, quality assurance and notifications to the relevant competent authorities.

A further £ 200 is charged for each subsequent batch of 100,000 transaction reports updated in the TR.

Standard UKMIR pricing will apply after the change has taken place for any transaction reports submitted from activation date onwards.

Onboarding Charges

Each new UKMIR client will be charged an onboarding fee of £675.
This onboarding fee is waived for new clients who have contracted for an initial term of 5 years or more.