International regulators and supervisory bodies have called for the use of unique identifiers to be used for derivatives data reporting. This section includes overviews, best practice, and links for the Unique Trade Identifier/Unique Swap Identifier (UTI/USI), Legal Entity Identifer (LEI), and Unique Product Identifier (UPI) and product taxonomies.
The document “Product Representation for Standardized Derivatives” below summarizes how identifiers could be used for the standardized portion of the OTC markets.

•  UTI/USI

  The Unique Trade Identifier (UTI) and Unique Swap Identifier (USI) are used to uniquely identify a trade or contract for regulatory reporting.

•  UPI and Taxonomy

  The Unique Product Identifier (UPI) is used to uniquely identify a product, and has sufficient specificity to be used for reporting to global financial regulators.  The classification of products is provided via the ISDA OTC taxonomies.

•  LEI

  The Global Legal Entity Identifier (LEI) uniquely identifiers parties to a transaction and provides regulators with a data aggregation tool to help measure and monitor systemic risk.  The LEI ROC is responsible for its oversight.