18. EMIR establishes a multi-TR reporting environment. RSEs have been reporting under Article 9 of EMIR the details of exchange traded or over-the-counter derivative contracts to any of the registered TRs under EMIR. As mentioned in paragraph 94 of ESMA's 2015 annual report and 2016 work plan, ESMA was examining two further applications for registration. The registration of one of them, Bloomberg Trade Repository Limited, became effective on 7 June 2017.

19. One of the priorities for ESMA is to ensure that high quality data is available to the authorities to allow them to fulfil their responsibilities and mandates. ESMA is aware that portability, if not properly conducted, can affect negatively the quality of the data available to authorities.

20. Reporting counterparties do not have an obligation to continue reporting to the same TR indefinitely, given there is competition between TRs. Likewise, it cannot be assumed that all existing and future TRs will continue to operate indefinitely, since there can be TRs that might in the future cease their operations. There are several situations in the market place that are currently observed by ESMA and National Competent Authorities (NCAs) supervising reporting entities when TR participants decide to change the TR to which they report.

21. These changes of TR, depending on how they take place, can be currently performed in different manners. In the consultation paper, ESMA outlined a few examples.