Considering the game is an MMO it would not require the disc to play. DCUO and Defiance do not require the disc to play, just to perform the install. Due to the game always changing, patches, expansions it's extremely unlikely it will be disc based. It's such a massive game they can't store the entire every changing contents on a disc and you just play off of that. Plus you'd end up replacing your disc X amount of times per year due to it just going out.
I'm not sure if you have never played DCUO or Defiance, but before it was FtP DCUO was a disc based game that required the disc in the machine to play. That's just because the disc was tied to your account. Also Defiance requires the disc in the machine as well, it has no install. That being said, both had update downloads that went into your hard drive and still ran off the disc. Anyway, on to the real question...
As the game is tied to a registration code, you should just have a one time install like FFXI did on PS2. That being said, that wasn't the case regarding FFXI on XBOX360, that required the disc in the machine the entire time. I think that was a Microsoft thing though, not a SE thing.
TL,DR - Basically, there should be just a one time install, and you are good to go.