1.   A trade repository shall register with ESMA for the purposes of Article 9.

2.   To be eligible to be registered under this Article, a trade repository shall be a legal person established in the Union and meet the requirements laid down in Title VII.

3.   The registration of a trade repository shall be effective for the entire territory of the Union.

4.   A registered trade repository shall comply at all times with the conditions for registration. A trade repository shall, without undue delay, notify ESMA of any material changes to the conditions for registration.