Recital 1

(1)In order to compare and aggregate data effectively and efficiently, trade repositories should use XML format templates and XML messages developed in accordance with ISO 20022 methodology for granting access to details of derivatives and for communicating with the entities referred to in Article 81(3) of Regulation (EU) No 648/2012. This should not prevent trade repositories and relevant entities from agreeing to use formats other than XML to communicate or to provide access to details of derivatives.