68. ESMA recognises that a LEI may be unavailable in some scenarios; however, this scenario does not apply to NFC, established in the EU. All entities subject to SFTR should use LEI for the identification of the entities referred to in the relevant datafields.
69. When the SFT is concluded between two NFCs, both of them should report it to a TR, though they can make use of the possibility to delegate the reporting under Article 4(2) to one of them or to a third party.