Status: Draft -- Not PublishedWill be live at 10/01/2015 00:00
Joint Associations Response to CPMI-IOSCO Harmonization of UTI Consultation
Thursday, October 1, 2015
The IIF, together with the International Swaps and Derivatives Association, The Investment Association, and the Securities Industry and Financial Markets Association, responded to the consultative report issued by the Committee on Payments and Market Infrastructures ("CPMI") and the International Organization of Securities Commissions ("IOSCO") on the harmonization of Unique Transaction Identifier (UTI).
The objective of the consultative report is to produce clear guidance as to UTI definition, format and usage that meets the needs of UTI users, is global in scale, and is jurisdiction-agnostic, thus enabling the consistent global aggregation of OTC derivatives transaction data.
The joint Associations' response reiterates the need for global data harmonization, and expresses support for the efforts to develop guidance for a uniform global UTI in particular, and the initiatives to harmonize key OTC derivatives data elements in general.