Governance Arrangements for critical OTC derivatives data elements (other than UTI and UPI)

View the Standard: CPMI | IOSCO

The G20 Leaders agreed in 2009 that all over-the-counter (OTC) derivative transactions should be reported to trade repositories (TRs) to further the goals of improving transparency, mitigating systemic risk and preventing market abuse. Aggregation of the data being reported across TRs will help authorities to obtain a comprehensive view of the OTC derivatives market and its activity. Such aggregation is feasible if “the work on standardisation and harmonisation of important data elements [is] completed”.

The CPMI and IOSCO have published technical guidance to harmonise the Unique Transaction Identifier (UTI), the Unique Product Identifier (UPI) and other critical OTC derivatives data elements (CDE) that may be reported to TRs.

The guidance on governance arrangements for CDE other than UPI and UTI promotes oversight and maintenance of the CDE.