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Reporting UPI to CME SDR

Q. What date do I need to begin submitting Unique Product Identifier (UPI) data to remain in compliance with the amended swap data reporting rules?
A. On January 29, 2024, all reportable swaps in the CR, IR, FX, EQ asset classes must be submitted with the UPI field. CME SDR’s New Release environment is available for testing as of November 9, 2023.

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Q. Do the swaps that I have already reported (known as Historical Data) need to be upgraded with a UPI?
A. Yes, January 29, 2024 is the compliance date for Historical Data as well. CME SDR will make the Production environment available on Sunday January 28, 2024 at 5:00 am Central Time for those looking to upgrade their existing swaps over the weekend. This is required for all open Part 45 submissions. It is not required to update swaps that, as of Jan 29, 2024, are no longer in an open status. To be clear, trades that are closed (terminated, matured, expired etc.) as of the Jan 29, 2024 date do not need to be upgraded.

Q. Do Part 43 submissions require upgrading?
A. No. Part 43 is designed to capture price-forming events. Upgrading data to accommodate UPI does not cause a price-forming event, and therefore Part 43 submissions are not required to be upgraded JUST for UPI. Any price-forming event in the future will need to be submitted, and will need to match the new specifications.

Q. How do I upgrade my Historical Data?
A. When submitting an upgrade to your historical data to conform with CME SDR’s new Technical Specifications, populate the <Action> field with ‘MODI’ and the <Event> field with ‘UPDT’.

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Q. Will there be any sample templates provided?
A. The sample submission templates are available in separate tabs within the Technical Specification document available via this link.

Q. Are there any other fields that are being deprecated?
A. Yes, there are several other fields that are being deprecated based on updated guidance from CFTC. The list of impacted fields can be found by filtering on <<details>>.

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  • Valuation Report - CR

  • Valuation Report - EQ

  • Valuation Report - FX

  • Valuation Report - IR

Q. How will scheduled reports accommodate the changes?
A. If a report was initially scheduled before UPI changes went live in Production, then the query populating the report will be the same that it was at the time of schedule. Cancelling this schedule, and re-scheduling it moving forward, will regenerate the query and populate the added data fields.

Submission Process

Q. Which methods are available to submit data to the SDR?
A. Web Services (Rest API), User Interface, and Secure FTP continue to be offered as the the submission methods to the SDR.

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