Harmonisation of critical OTC derivatives data elements (other than UTI and UPI) - second batch, consultative report
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 as well as the consultative report on Harmonisation of the Unique Transaction Identifier and two consultative reports on Harmonisation of the Unique Product Identifier1. The Harmonisation Group also plans to issue consultative reports on further batches of key data elements (other than UTI and UPI) in the coming months.
The report seeks general and specific comments and suggestions from respondents by 30 November 2016, using the pdf form below. The completed form should be sent to both the CPMI secretariat and the IOSCO secretariat.