567. TRs should ensure consistent determination of the scope of data subject to reconciliation. TRs therefore should only include in the reconciliation process derivatives, both at trade and at position level, where all the below conditions are fulfilled:

a. Counterparty 1 has reporting obligation, i.e. it is a counterparty established in the EU or an AIF, whose AIFM is established in the EU, based on the GLEIF.

b. Counterparty 2 has reporting obligation as indicated if established in the EU or an AIF, whose AIFM is established in the EU, based on the GLEIF or the Field 1.14 is populated with TRUE.

c. The derivative has not been subject to a report with action type EROR, unless it has been followed by a report with action type REVI in the subsequent thirty calendar days.

d. The derivative is outstanding or it has been outstanding in the last thirty calendar days, as referred to in Article 2(2)(a) and 2(2)(b) of the draft ITS on reporting.

568. It is worth recalling that TRs should reconcile the data in line with the relevant reconciliation tolerance, as well as the relevant start date as included in Table 2 of the Annex to the RTS on data quality.

Q90. Should only the Field 1.14 be used for determining the eligibility of derivative for reconciliation? Please detail the reasons for your response.