CPMI-IOSCO consult on harmonisation of unique product identifier

CPMI and IOSCO have jointly published a second consultative report on harmonisation of the unique product identifier (UPI).

The purpose of the UPI is to uniquely identify OTC derivatives products that authorities require to be reported to trade repositories. The UPI system will assign a code to each OTC derivative product that maps to a set of data elements describing the product in a corresponding reference database.

CPMI-IOSCO consulted on this reference database in December 2015. This second consultation seeks feedback on the format of the UPI code and the content and granularity of the UPI data elements.

Comments to the consultation close on 30 September 2016. CPMI-IOSCO expect to publish final guidance on a UPI around the end of 2016.