UTI

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Unique Transaction Identifier.

A UTI is a means of identifying a financial transaction and is required to be allocated to every derivative transaction that must be reported to a Trade repository under EMIR. The regulators have not stipulated how it is to be created, instead it is being left to market participants to devise a suitable system or indeed a variety of approaches.

If the UTI is created by one party to a trade and if it incorporates that party’s Legal entity identifier (LEI) (or part of it) as a prefix it can then add a transaction specific reference controlled so that it is unique within that firm. The combination of LEI plus internal reference should be unique externally too. There then has to be a hierarchy to determine which party generates the UTI or whether some third party like a dealing platform or broker is better able to fulfil the role. Whether or not a standardised system is adopted, ultimately it will be up to the parties to a deal to agree what UTI they use, and obviously both must use the same UTI.


Also known as a unique trade identifier.


See also