RBI mandates LEI and UTI reporting for OTC derivatives
→All OTC trades must include standard identifiers
Change
India’s RBI issued a Master Direction mandating Legal Entity Identifier (LEI) and Unique Transaction Identifier (UTI) reporting for all OTC derivative transactions.
Why it matters
The directive creates a unified reporting standard, requiring firms to include identifiers in every regulatory submission and align internal data systems accordingly.
Implications
- → Firms must upgrade reporting systems — compliance requirement immediate
- → Missing identifiers risk regulatory breaches — penalty exposure increases
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