EBS Unique Product Identifier
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In response to ongoing regulatory reporting harmonization across different jurisdictions, CME Group is committed to supporting EBS Foreign Exchange (FX) trading venue customers in meeting their regulatory obligations in the regions from which they operate.
CME Group will meet key compliance dates for venues and clients:
Date | Milestone |
|---|---|
January 29, 2024 | CFTC re-write Phase II |
April 29, 2024 (EU) and September 30, 2024 (UK) | European Markets Infrastructure Regulation (EMIR) Refit |
These initiatives will introduce the Unique Product Identifier (UPI), which sits above the ISIN, an existing identifier already provided to customers trading on NEX Swap Execution Facility (SEF), Multi-lateral Trading Facilities (MTF) (operated by NEX SEF) and the EBS UK MTF (operated by BrokerTec Europe Limited).
The implementation of UPI (for EBS) will be no later than January 29, 2024. To ensure customers trading FX Non-Deliverable Forward (NDF) products have access to the UPI values for trade confirmation messages and end of day reports (for the above trading venues), technology enhancements shall be implemented prior to implementation.
EMEA / UK Clients ONLY
CME Group for EBS venues will also look to provide a Report Tracking Number (RTN) for all exchange traded derivatives (including OTC) to support clients with an EMIR reporting obligation to ensure accurate reporting.
Details about both UPI and RTN impacts to client systems are provided within this topic:
Contents
Revision History
Date | Description |
|---|---|
September 13, 2023 | Initial publication |
Key Events and Dates
Date | Milestone |
|---|---|
Monday, November 6, 2023 | UPI available for customer testing in the New Release environment |
Monday, January 29, 2024 | EBS UPI implementation |
Client System Impacts
EBS CPT FIX 4.4
Unique Product Identifier
EBS Central Post Trade (CPT) FIX will introduce a new field to support UPI:
Field Number | Field Name | Description | Field Length |
|---|---|---|---|
2891 | UPICode | Uniquely identifies the product of a security using ISO 4914 standard, Unique Product Identifier (UPI). The DSB (Derivative Service Bureau Ltd) is acting as designated service provider for UPI System. | 12 alphanumeric characters |
Report Tracking Number
EBS CPT FIX contains an existing field to support RTN for EMEA / UK Clients:
Field Number | Field Name | Description | Field Length |
|---|---|---|---|
1903 | RegulatoryTradeID | Transaction identifier required by government regulators or other | Up to 10 integers |
EBS CPT TOF
Unique Product Identifier
As EBS CPT Ticket Output Feed API (CPT TOF) will be decommissioned by December 31, 2024, CME Group will not implement updates to the EBS CPT TOF API to support UPI.
Impacted clients should contact Global Account Management to implement a migration strategy. In the event that this cannot be completed prior to the earliest compliance date, map the UPI of relevant currency pairs in your referential data systems as the value will remain static for the life of the product.
To obtain the UPI value for your regulatory reporting obligation, refer to the ANNA Derivatives Service Bureau (DSB) for guidance.
Report Tracking Number
EBS CPT TOF supports an existing field to support RTN for EMEA / UK clients:
Field Number | Field Name | Description | Field Length |
|---|---|---|---|
15458 | Trading Venue Transaction ID | A venue unique Deal Id; the EBS Deal ID without hyphens. | Character limit of 52, but will not exceed 10 |
Client End of Day Reporting
To ensure consistency across trade confirmation outputs, updates will also be made to the following EBS end of day reports to support reconciliation and alternative format to receive required values.
Report | Change | Header Names |
|---|---|---|
CEOD 200 | Addition of new column headers |
|
CEOD201 | Addition of new column headers |
|
Contact Information
For questions about upcoming regulatory changes, please contact Global Account Management and the Cash Markets Reg Product Team.
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