CPSS-IOSCO Publishes Final Report on Requirements for OTC Derivatives Data Reporting and Aggregation

The International Organisation of Securities Commissions and the Committee on Payment and Settlement Systems have published a final report on over the counter ("OTC") derivatives data that should be collected, stored and disseminated by trade repositories ("TR"). The report addresses Recommendation 19 in the October 2010 report of the Financial Stability Board entitled Implementing OTC Derivatives Market Reforms. The report specifies minimum requirements for reporting data to a TR and for the reporting by a TR to regulators, as well as types of acceptable data formats. The report also discusses issues relating to authorities’ and reporting entities’ access to data, and disseminating selected OTC derivates data to the public while taking into account any confidentiality constraints. The report also addresses data aggregation mechanisms and tools needed to enable authorities to aggregate data in a manner that fulfils their regulatory mandates, including methods, rationale and possible tools to implement data aggregation such as legal entity identifiers. The report also makes recommendations in the following key areas: minimum data reporting requirements, access to data and development of a standard international product classification system. 

Originally Published: 
17/01/2012