EMIR/CFTC Reporting in one FpML

[gdhanav]

How to report a deal to ESMA/CFTC in one FpML(5.5)? Reason for this question: UTI/USI is mandatory field for both regulators. Issuer ID scheme for ESMA & CFTC is different.When we use one FpML to submit deals for both ESMA/CFTC,DTCC rejects the FpML. Any body faced the similar issue? Please share your suggestions. Thanks in Advance.

[h_mcallister]

Hi,

USI/UTI are represented in FpML using the “issuer” form of partyTradeIdentifier i.e. containing issuer and tradeId elements. Interpretation as USI or UTI is (for better or worse) controlled by the choice of issuerIdScheme value:

UTI: issuerIdScheme=”http://www.fpml.org/coding-scheme/external/issuer-identifier”

USI: issuerIdScheme=”http://www.fpml.org/coding-scheme/external/cftc/issuer-identifier”

A FpML submission can contain both USI & UTI by creating an instance of partyTradeIdentifier for each, with their respective issuer elements appropriately qualified using the issuerIdScheme.

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