8.1 Scope of the data subject to transfer

77. In the Consultation paper, ESMA mentioned that the data to be transferred in the general case, i.e. the transfer requested by the TR participant and where the registration of the old TR is not withdrawn nor in the process to be withdrawn, should comprise at least all outstanding derivatives, as well as any related lifecycle events, such as modifications, valuations, etc. of the TR participant or where the TR participant is an RSE, the derivatives of the clients of the TR participant that have confirmed their acceptance to transfer derivatives to another TR.

78. The majority of the respondents supported ESMA's proposal about the scope of the data subject to transfer in the general case. Some respondents expressed the following concerns:

a. In the case of a non-reporting TR participant, the permission of the old TR would be required before transferring their data to the new TR;