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Recital 5

Recital 5

(5)To ensure a standardised and harmonised approach to accessing details of derivatives and to reduce the administrative burden for both the entities listed in Article 81(3) of Regulation (EU) No 648/2012 and the trade repositories, it is appropriate to further specify the tasks of the trade repositories in granting access to details of derivatives. The trade repositories should designate a person responsible for liaising with entities listed in Article 81(3) of Regulation (EU) No 648/2012. They should also make available on their website the instructions for those entities, explaining how to request access to the data held by the trade repository. Furthermore, to facilitate requests from those entities for access to the relevant data, trade repositories should prepare a standardised form which would help those entities to provide trade repositories with the information allowing the latter to establish the requirements for the access to the data. Finally, trade repositories should set up technical arrangements necessary for entities listed in Article 81(3) of Regulation (EU) No 648/2012 to access the details of derivatives reported.

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