402. Moreover, ESMA understands that, further to the immediate feedback, TRs should provide the reporting counterparties, report submitting entities, entities responsible for reporting as well as third parties which have been granted access to information under Article 78(7) EMIR as applicable, with certain end-of-day information which should allow them to enhance the quality of the data reported under EMIR.

403. First and utmost, the aforementioned entities should receive information regarding all the derivatives reports that they submitted during the reporting day, as well as the latest state of the outstanding derivatives.

404. ESMA considers that having end-of-day information on rejected trades is practical information for the entities (i) to corroborate their submissions, (ii) to act on any potential derivative that has not yet been corrected, and (iii) to enable straight-through processing and workflow automation.

405. With regards to the reconciliation status of trades, it is worth noting that the trade state report will contain only the outstanding derivatives, but not only the outstanding derivatives are subject to reconciliation, hence a separate, more detailed report relating to all the derivatives subject to reconciliation should be provided to reporting counterparties, report submitting entities, entities responsible for reporting as well as third parties which have been granted access to information under Article 78(7) EMIR.