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.
Latest
ISDA Response on Common Carbon Data Model
On August 12, ISDA responded to a consultation from the Climate Data Steering Committee (CDSC) on a Common Carbon Credit Data Model. ISDA members believe the Group-of-20 carbon data model initiative is a positive step in addressing data gaps and...
Joint Response on RBA Consultation
On August 11, ISDA and FIA submitted a joint response to the Reserve Bank of Australia (RBA) on its consultation on guidance for Australia’s clearing and settlement facility resolution regime. The associations welcome publication of the draft guidance, which provides...
SwapsInfo H1 2025 and Q2 2025
Interest rate derivatives (IRD) trading activity increased in the first half of 2025, driven by continued interest rate volatility, evolving central bank policy expectations and persistent macroeconomic uncertainty. Trading in index credit derivatives also rose, as market participants responded to...
ISDA Response to IFSCA Consultation
On August 5, ISDA responded to the International Financial Services Centres Authority’s (IFSCA) consultation on reporting and clearing of over-the-counter (OTC) derivatives contracts booked in International Financial Services Centres (IFSC). In the response, ISDA provided the following recommendations: Not mandating...