The Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions published for public comment a consultative report entitled Harmonisation of the Unique Product Identifier.
The report responds to a G20 agreement in 2009 that all OTC derivatives contracts be reported to TRs, as part of the G20 commitment to reform OTC derivatives markets with the aim of improving transparency, mitigating systemic risk and preventing market abuse. Aggregation of the data reported across TRs will help ensure that authorities can obtain a comprehensive view of the OTC derivatives market and its activity.
Besides this consultative report, the CPMI and IOSCO have already issued a consultative report on Harmonisation of the Unique Transaction Identifier4 and Harmonisation of key OTC derivatives data elements (other than UTI and UPI) – first batch5 and plan to issue a separate consultative report on the UPI code as well as consultative reports on further batches of key data elements (other than UTI and UPI) in the coming months. Following the 2014 feasibility study, the FSB asked the CPMI and IOSCO to develop global guidance on the harmonisation of data elements reported to TRs and important for the aggregation of data by authorities, including the Unique Transaction Identifier (UTI) and UPI.
This consultative report is part of the Harmonisation Group’s response to that mandate. The report seeks general and specific comments and suggestions from respondents by 24 February 2016.
Full report
© IOSCO
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article