Q8. Do you agree with the allocation of non-outstanding data not related to active TR participants to the new TR in proportion to its market share for a specific reference date? Which other aspects need to be considered? Please elaborate on the reasons for your response.

77. For the case of withdrawal of registration, ESMA proposed to allocate data, for which no back-stop TR had been designated, to the remaining TRs based on a calculation in proportion to the new TR's market share for a specific reference date.

78. Six responses were received.

79. All respondents generally supported the proposal.

80. One TR stated that it preferred that the Guidelines were explicit about ESMA allocating the data rather than giving examples of how ESMA might do it as it would provide even greater certainty to the industry.

81. The TRs asked for clarifications of many technical aspects, such as definition of dormant reporting counterparties or similar cases; reference date; split of derivative data (e.g. per TR participant); allocation of historical data of dormant reporting counterparties or such that have transferred to another TR; the reference date etc.