ESMA has published a consultation on draft RTS and ITS implementing the SFT Regulation. The main areas addressed in the draft technical standards include: (i) the procedure and criteria for registration as a trade repository (TR); (ii) the use of internationally agreed reporting standards, the reporting logic and main aspects of the structure and content of SFT reports; and (iii) the requirements relating to transparency of data, data collection, aggregation and comparison. Comments are invited by 30 November 2016. It is expected that the finalised implementing measures will become applicable from 2018.