For trade reporting, the original ISDA OTC Derivatives Taxonomy (“Taxonomy v1.0”) has been in use for cross-jurisdictional reporting for Credit, Rates, Equities, Commodities and FX since 2012. In 2015, industry working groups, asset class experts, and steering committees began a collaboration to update Taxonomy v1.0 for trade reporting. However, as global data harmonization efforts moved to the forefront, industry agreed to pause the work to update Taxonomy v1.0. Parties are able to opt to use Taxonomy v1.0 for purposes of regulatory transaction reporting until such time as the relevant global standard for product identification is established.
MIFID II/MiFIR (including RTS 1, 2, 22, and 23) that initially came into force 3 January 2018 mandated the ISIN for identification of financial instruments, including derivatives. Industry working groups, asset class experts, and steering committees collaborated to form “Taxonomy v2.0” which could be used as inputs when requesting an ISIN for MiFID II, until such time as the relevant global standard provider was established and fully operational. Typographical errors, as noted in the log of Taxonomy v2.0 for Commodities, were corrected.
Historical draft proposals are listed below:
2019 ISDA Taxonomy 2.0 proposals under 30-Day Review Period (July 26, 2019 – August 26, 2019)
2017 ISDA Taxonomy 2.0 proposals under 30-Day Review Period (December 2017)
For Taxonomy v1.0 or v2.0 questions, contact EHsu@isda.org.
Documents (3) for ISDA Taxonomies
- ISDA OTC Derivatives Taxonomy v1.0 Reporting 14 Feb 2018 FINAL(xls) will open in a new tab or window
- ISDA Taxonomy Commodities v2.0 ISIN system inputs 14 Feb 2018 FINAL corrected(xlsx) will open in a new tab or window
- ISDA-Taxonomy EQ-CR-FX-IR v2.0 3 September 2019 FINAL(xls) will open in a new tab or window
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