ISDA has written this letter to the Financial Stability Board (FSB) urging a better coordination of efforts worldwide to harmonise different aspects of regulatory reporting. In particular a lack of harmonisation of Unique Transaction Identifiers (UTI), Unique Product Identifiers (UPI) as well as other Common Data Elements (CDE) leads to difficulty in implementation for global firms.

This article on the Regulation Asia site discuses the letter and the issues raised. IOSCO and other global organisations have been leading efforts to harmonise reporting for the past years (see here). A recent consultation on changes to EMIR Reporting (see here) also looks at moving to such a harmonised model.