bullet OTC Taxonomies

The OTC Taxonomies provide a classification for each of the derivative asset classes, with a primary goal to facilitate regulatory reporting. The Taxonomies will be used to classify trades reported to the asset-class specific Swap Data Repositories. The industry has produced taxonomies for each of the asset classes: credit, interest rates, commodities, equities and FX, which we expect to evolve over time.

The final taxonomies have been integrated in the FpML data standard to facilitate the reporting process. Coordination with other international standards such as ISO to align with the ISDA taxonomies is ongoing.

bullet Unique Product Identifier (UPI)


UPI is defined by the CFTC (17 CFR part 43) as: “Unique product identifier means a unique identification of a particular level of the taxonomy of the asset class or sub-asset class in question.” The industry made recommendations to the CFTC Technology Advisory Committee (TAC) on the development of UPIs for OTC derivatives and requested further input on the level of granularity of the UPI. We expect discussions to continue after the start of the regulatory reporting.

Taxonomies presentation:

Resources:

    • April 2nd, 2012
      Most Recent OTC Taxonomies

      Excel sheet with draft taxonomies by asset class.

    • December 20th, 2011
      ISDA OTC Taxonomies: Rules of Operation

      As part of ongoing efforts to support regulatory mandates, the ISDA OTC Taxonomies are being developed to facilitate regulatory reporting. ISDA defined the initial product taxonomies for each asset class, and specified the delivery of the taxonomies to the market. This paper is a brief overview

    • June 30th, 2011
      Implementation Plan for Unique Product Identifiers

      Industry implementation plan for UPI and product taxonomies for the OTC derivative asset classes.