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TRs are entities that maintain a centralised electronic record (database) of OTC derivatives transaction data. By centralising the collection, storage and dissemination of data, TRs can play an important role in providing information that supports risk reduction, operational efficiency and cost savings for both individual entities and the market as a whole. Reporting of OTC derivatives data to a TR enables authorities to ascertain accurate information concerning an OTC derivatives contract shortly after it is entered into, as well as information concerning any changes to the contract throughout its existence. In addition, given their centralised role, TRs are able to provide information on OTC derivatives markets that could serve to: (i) promote financial stability; (ii) assist in the detection and prevention of market abuse; and (iii) enhance the transparency of information to relevant authorities and the public.