The ISO/NP 5009 ballot started on January 16, 2020, and will end on April 8, 2020. Read more...
The G20 agreed in 2009 that the financial services industry should report all OTC derivatives contracts to Trade Repositories (TRs) as part of their commitment to reform OTC derivatives markets. The Financial Stability Board (FSB) identified that it was critical for any aggregation option of OTC derivative transactions that its work on standardisation define a UPI data standard.
The global work on the UPI Technical Guidance started under the auspices of the CPMI and the IOSCO. A Working Group of the FSB conducted follow-up work on governance and implementation.
The European Central Bank (ECB), which participated in the various groups to set up the technical and governance aspects of the UPI, is a liaison A member of TC68/SC8. As such, the ECB has been selected to put forward a NWIP (New Work Item Proposal) to develop an International Standard for a UPI. If approved, this work will allow the UPI standard to provide for the unique iand consistent identification of OTC derivative products in any jurisdiction that requires the UPI for regulatory reporting purposes.
The ISO/NP 5009 ballot started on January 16, 2020, and will end on April 8, 2020.
Note: The Financial Stability Board (FSB) is an international body, bringing together senior policymakers from ministries of finance, central banks, and supervisory and regulatory authorities from the G20 countries plus other regional organisations.