For OTCD trade reporting, the original ISDA OTC Derivatives Taxonomy (“Taxonomy v1.0”) was used for cross-jurisdictional reporting for Credit, Rates, Equities, Commodities and FX from 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 could opt to use Taxonomy v1.0 for purposes of regulatory transaction reporting until such time as the relevant global standard for product identification was established and operational.
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 operational.
In 2019, the FSB designated the Derivatives Service Bureau (DSB) as the service provider for the Unique Product Identifier (UPI) system. Note that since the DSB is now established and operational as the global provider of UPIs, ISINs, CFIs, and FISNs, the ISDA Taxonomy v1.0 and Taxonomy 2.0 will no longer be updated. Please refer to the DSB website at https://www.anna-dsb.com/ for global UPI and ISIN product templates.
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)
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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