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Consultation on harmonisation of key OTC derivatives data

The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) have published a public consultative report on the 'Harmonisation of a first batch of key OTC derivatives data elements (other than Unique Transaction Identifier, UTI, and Unique Product Identifier, UPI).'

The purpose of this consultative report is to help develop guidance to authorities on definitions for a first batch of key data elements that are important for the globally consistent and meaningful aggregation of data on over-the-counter (OTC) derivatives transactions. This follows the agreement by the G20 in 2009 that all OTC derivatives contracts should be reported to trade repositories (TRs) as part of their commitment to reforming OTC derivatives markets, with the aim of improving transparency, mitigating systemic risk and preventing market abuse.

The report, which specifies key areas upon which the organisations are soliciting comments, is available on the BIS website.

Comments on the proposals as well as responses to the general and specific questions laid out by the report should be submitted by 9 October 2015, to be sent to both the CPMI secretariat and the IOSCO secretariat.

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Control & Compliance in Operations