Unique Transaction Identifier (UTI) for OTC Derivative Transactions
Unique Transaction Identifier (UTI) for OTC Derivative Transactions
The Unique Transaction Identifier (UTI) is a globally recognised data element for reporting over-the-counter (OTC) derivative transactions. Its objective is to help policymakers obtain a comprehensive and transparent view of the OTC derivatives market.
Currently, all OTC transactions in rupee interest rate derivatives, forward contracts in Government securities, foreign currency derivatives, foreign currency interest rate derivatives, and credit derivatives are reported to the Trade Repository maintained by Clearing Corporation of India Limited (CCIL-TR). It has now been decided to make the use of UTIs mandatory for reporting all such transactions. The detailed framework for UTI implementation in OTC derivative reporting is provided in the Annex.
These directions will take effect from January 1, 2027, and will apply to all OTC derivative transactions undertaken on or after the effective date.
The directions are issued under the powers conferred by Section 45W read with Section 45U of the Reserve Bank of India Act, 1934, and all other enabling provisions in this regard.
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