Harmonisation of the Unique Transaction Identifier - Technical Guidance

February 2017

G20 Leaders agreed in 2009 that all over-the-counter (OTC) derivatives contracts should be reported to trade repositories (TRs) as part of their commitment to reform OTC derivatives markets in order to improve transparency, mitigate systemic risk and protect against market abuse. Aggregation of the data reported across TRs is necessary to help ensure that authorities are able to obtain a comprehensive view of the OTC derivatives market and activity.

Following the 2014 FSB Feasibility study on approaches to aggregate OTC derivatives data, 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 Unique Transaction Identifier (UTIs) and Unique Product Identifiers (UPIs).

This report is one part of the CPMI-IOSCO Harmonisation Group's response to its mandate. It focuses on the harmonised global UTI, whose purpose is to uniquely identify individual OTC derivatives transactions required by authorities to be reported to TRs. The report produces technical guidance to authorities on the definition, format and usage of the UTI that meets the needs of UTI users. The guidance is global in scale, based on relevant international technical standards where applicable, thus enabling the consistent global aggregation of OTC derivatives transaction data.