The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) have issued a second consultative report on harmonisation of the unique product identifier (UPI).

The UPI system will assign a code to each over-the-counter derivative product which maps to a set of data elements describing the product in a corresponding reference database. The focus of the first consultative report issued by the CPMI and IOSCO focused on the reference database (then called a “classification system”). The focus of this second consultative report is the form, content and granularity of the UPI.

The deadline for comments on the second consultative report is 30 September 2016.

The CPMI and IOSCO will publish final guidance on the UPI around the end of 2016. They also intend to publish consultative reports on the harmonisation of a second and third batch of key data elements other than the unique transaction identifier and UPI in 2016 and 2017 respectively.

View CMPI and IOSCO second consultation on harmonisation of unique product identifier, 18 August 2016