Q46. Do you agree with the upgrade of outstanding SFTs that are subject to transfer to the most up to date reporting requirement at the latest by 23:59:59 on the Thursday ahead of the weekend on which the porting takes place? Which other aspects need to be considered? Please elaborate on the reasons for your response.

306. ESMA proposed that TR participants upgrade outstanding SFTs subject to porting to the most up to date reporting requirement prior to the porting on a weekend.

307. All respondents supported the proposed Guideline.

308. Two TRs asked to embed the responsibility of the TR participant to update reports prior to porting and to make explicit that not-updated SFTs are not eligible for voluntary porting and will remain in the old TR.

309. Regarding the cut-off time, one respondent pointed out that draft Guideline 32 needed to be altered to include porting on working days and determine the cut-off for this case using relative time parameters.