Harmonisation of critical OTC derivatives data elements (other than UTI and UPI) - third batch, consultative report

June 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 reforming 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.

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 (UTI) and Unique Product Identifier (UPI).

This consultative report is part of the Harmonisation Group's response to that mandate. It complements the consultative report on Harmonisation of key OTC derivatives data elements (other than UTI and UPI) - first batch, on Harmonisation of critical OTC derivatives data elements (other than UTI and UPI) - second batch,  on Harmonisation of the Unique Transaction Identifier and two consultative reports on Harmonisation of the Unique Product Identifier.[1] CPMI-IOSCO have issued the final technical guidance on UTI in February 2017, plans to issue the one on UPI around mid-2017 and on critical data elements early 2018.

The report seeks general and specific comments and suggestions from respondents by 30 August 2017, using the dedicated response form. The completed form should be sent to both the CPMI secretariat and the IOSCO secretariat.

Following feedback from market participants, the original consultation period (until 30 August 2017) has been extended to 15 September 2017 cob only for data elements related to prices, quantities and other payments (from section 2.37 to section 2.63 of the consultative report).


1 First consultative report and second consultative report