Featured Product

    CPMI and IOSCO Guidance on Harmonization of Unique Product Identifier

    September 28, 2017

    CPMI-IOSCO published a report that provides technical guidance to authorities on a uniform global Unique Product Identifier (UPI) applying to over-the-counter (OTC) derivatives transactions. The report envisions a UPI system in which a unique UPI code would be assigned to each distinct OTC derivative product. Each UPI code would map to a set of data comprising reference data elements with specific values, which together describe the OTC derivative product. The collection of reference data elements and their values for each OTC derivative product would reside in a corresponding UPI reference data library.

    The role of the UPI is to uniquely identify each OTC derivative product involved in a transaction that an authority requires, or may in future require, to be reported to a trade repository; this is consistent with the commitment of the G20 Leaders to a more transparent OTC derivatives market. Global uniform UPIs facilitate the consistent global aggregation and analysis of OTC derivatives transaction data reported across trade repositories that authorities can use to meet their legal obligations and prudential requirements. The guidance is global in scale, takes account of relevant international technical standards, where available, and is jurisdiction-agnostic. It covers the technical principles applicable to the UPI; the UPI reference data elements required for each OTC derivative asset class; the identification of underlying assets and benchmarks of OTC derivative products; and the UPI code structure. This guidance does not address the governance arrangements or the implementation of the UPI, which are matters that FSB will soon consult on.

    This guidance is complementary to the technical guidance on harmonization of unique trade identifier (UTI), which IOSCO published in February 2017. CPMI and IOSCO also intend to produce guidance on harmonization of other critical OTC derivatives data elements in the coming months. Aggregation of the data reported across trade repositories can help provide authorities with a comprehensive view of the OTC derivatives market and activity to help improve transparency, mitigate systemic risk, and protect against market abuse. 


    Related Links 

    Keywords: International, Securities, UPI, Harmonization of UPI, UTI, Trade Repository, CPMI, IOSCO

    Related Articles
    News

    OCC Revises Minimum Threshold for Banks to Conduct Stress Tests

    OCC issued the final rule that amends its company-run stress testing requirements under the 12 CFR 46 in Code of Federal Regulations.

    October 10, 2019 WebPage Regulatory News
    News

    US Agencies Update Management Interlock Rules Under DIMIA

    US Agencies (FDIC, FED, and OCC) issued a final rule that increases the thresholds in the major assets prohibition for management interlocks for purposes of the Depository Institution Management Interlocks Act (DIMIA).

    October 10, 2019 WebPage Regulatory News
    News

    US Agencies Finalize Rules to Closely Match Bank Risk Profiles

    US Agencies (OCC, FED, and FDIC) finalized rules that tailor the regulations for domestic and foreign banks to more closely match their risk profiles.

    October 10, 2019 WebPage Regulatory News
    News

    CPMI-IOSCO and FSB on Governance Arrangements for OTC Derivatives

    CPMI and IOSCO published a report that identifies key criteria, functions, and bodies for the governance arrangements.

    October 09, 2019 WebPage Regulatory News
    News

    EIOPA Launches Field Test on Templates Under 2020 Solvency II Review

    EIOPA, as part of the 2020 Solvency II reporting and disclosure review, launched a field test on the revised and newly proposed reporting templates.

    October 09, 2019 WebPage Regulatory News
    News

    US Agencies Adopt Rule on Appraisals for Real Estate Transactions

    US Agencies (FDIC, FED, and OCC) adopted the final rule to amend regulations requiring appraisals of real estate for certain transactions

    October 08, 2019 WebPage Regulatory News
    News

    US Agencies Finalize Amendments to Simplify Volcker Rule

    US Agencies (CFTC, FDIC, FED, OCC, and SEC) finalized amendments to the regulations implementing section 13 of the Bank Holding Company Act, also known as the Volcker Rule.

    October 08, 2019 WebPage Regulatory News
    News

    EC Report Explores Application and Challenges of Blockchain Technology

    The Joint Research Center of EC published a report exploring the challenges and impact of distributed ledger technologies.

    October 08, 2019 WebPage Regulatory News
    News

    BIS and SNB Sign Agreement on Innovation Hub Center in Switzerland

    BIS and SNB signed an operational agreement on the BIS Innovation Hub Center in Switzerland.

    October 08, 2019 WebPage Regulatory News
    News

    ECB Issues Results of Sensitivity Analysis of Liquidity Risk for Banks

    ECB published results of 2019 stress test on sensitivity analysis of liquidity risk.

    October 07, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3958