131. The feedback included several points regarding the procedure for the migration of data. One market participant stated that it was inconsistent in the report if the old or new TR should notify the NCA, which has since been made clearer. Another market participant suggested that the underlying clients are not informed in the process, but as this procedure involves the voluntary migration to a new TR the client must initiate the migration and therefore be aware of the process. Some market participants disagreed with the transfer of data between the TRs, but ESMA disagrees with this view as TRs regularly exchange data. The procedure has been updated accordingly.