ARTICLE
24 April 2018

Final Global Technical Guidance On Critical OTC Derivatives Data Published

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Shearman & Sterling LLP

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On April 9, 2018, the Committee on Payments and Market Infrastructures and the Board of the International Organization of Securities Commissions published final Technical Guidance ...
United States Finance and Banking

On April 9, 2018, the Committee on Payments and Market Infrastructures and the Board of the International Organization of Securities Commissions published final Technical Guidance on the harmonization of critical OTC derivatives data reported to trade repositories. The Technical Guidance does not cover the Unique Transaction Identifier and Unique Product Identifier. The Financial Stability Board identified the development of a UTI, UPI and other key data elements as critical for a mechanism to produce and share global aggregated derivatives reporting data. The Technical Guidance sets out the definition, format and allowable values of critical elements that would facilitate consistent aggregation of reported data at global level. It does not specify which data elements must be reported because those requirements are set by the relevant authorities in each jurisdiction. The Guidance is for national authorities to use and it is not intended to function as a set of rules for market participants.

The Technical Guidance is available at: https://www.bis.org/cpmi/publ/d175.pdf.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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