Transparency about access rules
An application for registration as a trade repository shall contain:
(a)
the access policies and procedures pursuant to which users access data in a trade repository including any process by which users may need to amend or modify registered contracts;
(b)
a copy of the terms and conditions which determine the user’s rights and obligations;
(c)
a description of the different categories of access available to users if more than one;
(d)
the access policies and procedures pursuant to which other services providers may have non-discriminatory access to information maintained by the trade repository where the relevant counterparties have provided their consent.
Transparency about compliance arrangements and accuracy of data
An application for registration as a trade repository shall contain the procedures put in place by the applicant in order to verify:
(a)
the compliance of the reporting counterparty or submitting entity with the reporting requirements;
(b)
the correctness of the information reported;
(c)
that data can be reconciled between trade repositories if counterparties report to different trade repositories.
Pricing policy transparency
An application for registration as a trade repository shall contain a description of the applicant’s:
(a)
pricing policy, including any existing discounts and rebates and conditions to benefit from such reductions;
(b)
fee structure for providing any ancillary services including the estimated cost of the trade repository services and ancillary services, along with the details of the methods used to account the separate cost that the applicant may incur when providing trade repository services and ancillary services;
(c)
methods used in order to make the information available for clients, notably reporting entities, and prospective clients, including a copy of the fee structure where trade repository services and ancillary services shall be unbundled.
