As part of the ongoing effort to improve the OTC derivatives infrastructure, ISDA developed an implementation plan in June 2011 to define a standardized taxonomy (classification) for OTC derivatives and develop Unique Product Identifiers (UPI).
The ISDA OTC Taxonomies and UPI will support regulatory mandates to increase transparency through public and regulatory reporting. In addition to the coordination of the market discussions that led to the proposed taxonomies for the different asset classes, ISDA put a governance model in place to oversee the development of the taxonomies and ensure proper support going forward.
The final taxonomies will be included in the FpML data standard to facilitate the reporting process. Coordination with other international standards such as ISO to align with the ISDA taxonomies is ongoing.
Latest
Response on EC’s SFR Proposal
On April 9, ISDA published technical comments on the European Commission’s (EC) proposed Settlement Finality Regulation (SFR) as it applies to designated EU systems and registered third-country systems. One significant concern is that the scope of insolvency protections provided to...
Natixis CIB Adopts ISDA’s DRR
ISDA has announced that Natixis CIB has adopted ISDA’s Digital Regulatory Reporting (DRR) solution, enabling the bank to meet regulatory reporting requirements more efficiently and accurately. The ISDA DRR uses the Common Domain Model (CDM) – an open-source data standard...
Paper on MIFIR PTT
On April 7, ISDA, the Association for Financial Markets in Europe (AFME), the International Capital Market Association (ICMA) and the European Banking Federation (EBF) published a paper on proposals relating to post-trade transparency (PTT) under the Markets in Financial Instruments...
Data Integrity for Single-sided Reporting
On April 2, ISDA published a paper on why single-sided reporting does not compromise the quality and integrity of data received by supervisors. The paper addresses concerns among regulators that moving from dual-sided reporting would adversely affect the quality of...