Can TRAction report a close or correct a trade reported by another provider?

With a lot of companies recently changing their trade reporting providers in the leadup to and aftermath of EMIR Refit and ASIC/MAS Rewrite, a common question is whether a delegate can close or correct a transaction for its client which was previously reported to a trade repository (TR) by a former delegate.

Often clients that come to TRAction are not newly established firms, but rather they already have some trade reporting in place. This may be either directly through their own internal trade reporting functions or through a trade reporting delegate.

This question may arise because firms wish to start using a trade reporting delegate in place of reporting to a TR directly (which they have found too hard to do themselves). Alternatively, they may already be doing their trade reporting through a delegate, the services of which they are not happy with – and in such cases, they may wish to have TRAction take over their trade reporting.