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02 September 2015

CPMI-IOSCO: Harmonisation of key OTC derivatives data elements (other than UTI and UPI) – first batch


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This consultative report is one part of the CPMI-IOSCO Harmonisation Group's response to the FSB mandate. It focuses on a first batch of key data elements (other than UTI and UPI) that are considered important for consistent and meaningful aggregation on a global basis.


The Committee on Payments and Market Infrastructures  and the IOSCO published for public comment a consultative report entitled Harmonisation of a first batch of key OTC derivatives data elements (other than UTI and UPI).

This consultative report is one part of the CPMI-IOSCO Harmonisation Group’s response to its mandate. It focuses on a first batch of key data elements (other than UTI and UPI) that are considered important for consistent and meaningful aggregation on a global basis.

For each of the key data elements in the first batch, individual tables specify the “definitions”, containing the definition, naming convention, standard, format, list of allowable values and crossreferences for identifying interdependencies between data elements. Each data element is also illustrated with at least one example demonstrating how this data element supports authorities’ data needs. The guidance aims to provide consistent “definitions” of data elements with the same characteristics, referencing existing industry standards whenever possible, and allowing independent application from the chosen communication protocol. For several data elements of the first batch, multiple harmonisation alternatives are proposed and discussed. The Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions  request comments on the proposed “definitions” for each key data element, considering whether they:

·         consistently support meaningful global aggregation;

·         appropriately capture different market practices at a global level;

·         appropriately reflect current industry market practices or standards that may already be in use globally; and,

·         provide sufficient details and specifications as guidance.

In addition, CPMI and IOSCO invite comments on specific questions included at the end of each relevant section. Besides this consultative report, the CPMI and IOSCO have already issued a consultative report on Harmonisation of the Unique Transaction Identifier, and plan to issue consultative reports on global UPIs and on further batches of key data elements (other than UTI and UPI) in the coming months.

The report seeks comments on these proposals as well as responses to the general and specific questions by 9 October 2015.

Full press release

Full report



© IOSCO


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