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:

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.

Details about both UPI and RTN impacts to client systems are provided within this topic:

Contents

Revision History

Key Events and Dates

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:

Report Tracking Number

EBS CPT FIX contains an existing field to support RTN for EMEA / UK Clients:

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:

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.  

Contact Information

For questions about upcoming regulatory changes, please contact Global Account Management and the Cash Markets Reg Product Team.