UTI/USI

Unique Swap Identifiers (USI)/Unique Trade Identifier (UTI)

Unique Swap Identifiers (USI), which is the CFTC term or Unique Trade Identifier (UTI) which is the term used more globally is an identifier on the transaction level that stays unique throughout the life of a trade. ISDA has published an overview document with USI design and guiding principles to be used for the generation and consumption of a USI. This document includes the treatment of USI in various workflow scenarios. The CFTC is about to publish a document with the technical specifications for a USI.

The CFTC is in the process of finalizing the technical specifications for the USI. ISDA and FpML working groups have provided input to the Commission. The final version of the CFTC USI Data Standard is expected October 2012 and will be published on this page as soon as it becomes available.

The USI/UTI is captured in FpML using a two-field representation within the partyTradeIdentifier.
The partyTradeIdentifyer is a structure defining one or more trade identifiers allocated to the trade by a party.

Sample USI syntax:

<partyTradeIdentifier> 
<issuer issuerScheme=”http://fpml.aws.isda.org/coding-scheme/external/cftc/issuer-identifier”>101ABCD123</issuer> 
<tradeId tradeIdScheme=”http://fpml.aws.isda.org/coding-scheme/external/unique-transaction-identifier”>12345678901234567890123456789012</tradeId> 
</partyTradeIdentifier> 

The tradeId is an issuer-specific transaction identifier. The issuer element identifies the organization that issued the trade identifier. Both fields combined constitute the USI/UTI.

The tradeId is an issuer-specific transaction identifier. The issuer element identifies the organization that issued the trade identifier. Both fields combined constitute the USI/UTI.

The issuer coding scheme URI (http://fpml.aws.isda.org/coding-scheme/external/cftc/issuer-identifier) is specified to reference a CFTC-created identifier to be used as a prefix for the firm that issues the USI.

The issuer coding scheme URI (http://fpml.aws.isda.org/coding-scheme/external/cftc/issuer-identifier) is specified to reference a CFTC-created identifier to be used as a prefix for the firm that issues the USI.

Resources: