Unique Swap Identifier (USI): An Overview Document

Unique Swap Identifiers (USI) identify a trade or contract in derivatives data reporting. The CFTC, of all international regulators, is furthest along in specifying the requirements for this trade identifier. We believe the majority of the principles can be applied internationally, as the industry seeks a globally-accepted solution for unique trade identifiers. The purpose of this overview document is to provide the industry with Design & Guiding Principles to be used for USI generation and consumption.

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Documents (1) for Unique Swap Identifier (USI): An Overview Document

Joint Response to FCA and HMT Consultations

On January 16, ISDA and UK Finance responded to both the consultation on streamlining the UK European Market Infrastructure Regulation (UK EMIR) intragroup regime by the Financial Conduct Authority’s (FCA) and the draft statutory instrument from His Majesty’s Treasury (HMT)....

Key Trends in OTC Derivatives Market H1 2025

The latest data from the Bank for International Settlements (BIS) over-the-counter (OTC) derivatives statistics shows an increase in notional outstanding of OTC derivatives during the first half of 2025 compared to the first half of 2024. Notional outstanding rose across...

Credit Derivatives Trading Activity Q3 2025

This report analyzes credit derivatives trading activity reported in Europe. The analysis shows European credit derivatives transactions based on the location of reporting venues (EU versus UK) and product type. The report also compares European-reported credit derivatives trading activity to...

Striking a Balance on EU Market Risk Capital

With US prudential regulators poised to publish a revised Basel III endgame proposal this year, and EU and UK regulators moving to finalize their own rules, ISDA is maintaining a laser focus on achieving a risk-appropriate capital framework that is...