Order Designating the Unique Product Identifier and Product Classification System To Be Used in Recordkeeping and Swap Data Reporting

As previously announced by the U.S. Commodity Futures Trading Commission (CFTC), it has now published in the Federal Register its order to designate the Derivatives Service Bureau Limited (DSB) to provide unique product identifiers (UPIs) and corresponding classifications into credit, equity, foreign exchange, and interest rate swaps to swap participants. The identifiers must subsequently be used by swap counterparties and major swap participants in their reporting of any swap related data to swap data repositories (SDRs) and for recordkeeping purposes by no later than January 29, 2024. Corresponding adjustments to Statutory Instruments 17 CFR Part 43 relating to Real Time Public Reporting and 17 CFR Part 45 relating to Swap Data Recordkeeping and Reporting Requirements will be made at a later point in time.
To conclude, the CFTC re-emphasiszes that the use of UPIs is important to increase transparency in derivatives trading and facilitate data reconciliation and standardization.
To get more information on how to go about to obtain a DSB assigned UPI, market participants are recommended to visit the following website: https://www.anna-dsb.com/upi.