GB/T 45806-2025Financial services - Global unique product identifier (UPI) (English PDF)

Foreword

This document is in accordance with the provisions of GB/T 1.1-2020 "Guidelines for standardization work Part 1: Structure and drafting rules for standardization documents" Drafting.

This document is equivalent to ISO 4914:2021 "Unique Product Identifier for Financial Services".

Compared with ISO 4914:2021, this document has the following minimal editorial changes.

--- Changed the title of this document to coordinate with the existing standard.

--- Added a note to the scope to clarify that the scope of application of this document is as stipulated in the Futures and Derivatives Law of the People's Republic of China for derivatives trading, it is supplemented that H-type options fall within the scope of non-standardized options (see Chapter 1). ISO 10962 is also added.

2021 has adopted the information equivalent to GB/T 35964-2023, improving the applicability and readability of the document.

--- Added the note to the term "OTC derivatives" (see 3.1) to improve the applicability and readability of the document.

--- Added a note to the term "UPI service provider" (see 3.4) to improve the applicability and readability of the document.

--- Changed the order of the appendices to comply with the drafting rules of my country's standardization documents.

Introduction

In.2009, the G20 Summit proposed that all over-the-counter (OTC) derivatives should be the reporting of commodity contracts to the Trade Reporting Repository (TR) is an important part of the reform of the OTC derivatives market.

Based on the reporting data, national financial regulatory authorities can conduct comprehensive monitoring of OTC derivatives markets and activities to prevent abuse of the OTC derivatives market.

The standardization of identification codes and data elements is crucial for global data aggregation. The establishment of a global unique product identifier (UPI) is to Uniquely identify OTC derivatives. Each different OTC derivative has a unique UPI, which can be reported to the transaction repository and can be mapped to a set of reference data elements with common values that describe the product. Each product's UPI reference data element and its the collection of values will also be stored in the UPI reference database. At the same time, UPI can also serve market participants in executing pre- and post-transaction processes and Construction of financial market infrastructure.

Financial Services Globally Unique Product Identifier

1 Scope

This document sets out the elements that must be included in an over-the-counter (OTC) derivatives scheme to be reported to a trade repository.

include.

---The structure and format of UPI;

---The minimum data elements of the UPI reference database and their allowed values.

UPI applies to at least OTC derivatives under the following financial instrument categories (see ISO 10962).

---Swap(S);

---Forward contract (J);

---Unlisted options and compound listed options (H);

Note 1.Article 3, Paragraph 2 of the Futures and Derivatives Law of the People's Republic of China stipulates that derivatives transactions referred to in this Law refer to transactions other than futures transactions that involve swaps.

Trading activities with futures contracts, forward contracts, non-standardized option contracts and their combinations as the trading subjects.

Note 2.Unlisted options and composite listed options (H) fall under the category of non-standardized options.

---Others (Miscellaneous) (M).

Note 3.ISO 10962:2021 has been adopted as equivalent to GB/T 35964-2023, with no technical differences.

2 Normative references

The contents of the following documents constitute the essential clauses of this document through normative references in this document.

For referenced documents without a date, only the version corresponding to that date applies to this document; for referenced documents without a date, the latest version (including all amendments) applies to this document.

GB/T 17710-2008 Information technology security techniques - Checksum character system (ISO/IEC 7064:2003, IDT)

3 Terms and Definitions

The following terms and definitions apply to this document.

Financial instruments identified by ISIN prefixes "EZ" or "ZZ".

Note 1.For ISIN prefixes, see Annex A of ISO 6166:2021.

Note 2.ISO 6166:2013 has been revised and adopted as GB/T 21076-2017.

OTC derivatives

A set of OTC derivatives (3.1) identified and published by a UPI service provider (3.4) and referenced in the shared UPI reference database (3.3) the common value of a given set of data elements.

A collection of data with reference data elements that together have specific values that describe a product.