558. When constructing the TSR, TRs should take into account the lifecycle events based on the logical order derived from the fields 'Event date', 'Action type' and 'Event type'. TRs should update the TSR based on the latest information for a given derivative as derived from the field 'Event date'. In the case of valuation and margins reports with the same event date, the TRs should also consider the fields 'Valuation timestamp' and 'Collateral timestamp', respectively.

559. Where for a given event date there are several lifecycle events that affect the data reported for a given derivative, they should all be included in the latest report for that event date and the given action type. TRs should therefore consider the field 'Reporting timestamp' only with regards to the given event date.

560. TRs should ensure that derivative contracts that mature on a given day should still be included in the TSR for that day.

561. The information from previously submitted lifecycle events should in general persist in the TSR when counterparties report subsequent lifecycle events for which certain fields are not requested to be populated (i.e. not applicable). On the contrary, TRs should not preserve the previous information in the updated TSR when subsequent lifecycle events submitted by counterparties leave certain optional fields blank. Counterparties should consistently report optional information in order to avoid the deletion of available information, which otherwise could lead to reconciliation breaks and missing information in the latest trade state.