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FAQs on transaction reporting – Question II.2.1.27

Data Field (31)

What UTI should be reported for back loaded trades where the MP does not have a UTI for the trade?

Example: Prior to Oct 7, participant enters into a trade. No UTI is assigned to the trade. Trade is still open on Oct 7 and therefore needs to be reported as a back loaded trade.

The MP may omit the UTI for such trades


Answer:

The UTI is a mandatory field in the schema. For back loaded trades where the market participant does not have an UTI for the trade, the market participant should create one. There is NO expectation that the UTI will match the market participant counterparty’s UTI.

The UTI is needed because of the ID of the record, otherwise the market participant will not be able to make any amendments and/or recall the transaction.

The UTI can be anything the market participant would like to submit e.g. the transaction ID available in their system and, as mentioned above, which does not need to match the other counterparty. This applies to any back loading trade.

Last update: 08/09/2015   RSS_Icon Subscribe to this Page’s RSS