FSB – Confirmed that LEI ROC is to become the governance body for OTC derivatives identifiers

September 25, 2020 – FSB confirmed the regulatory oversight committee (ROC) of the global legal entity identifier system (LEI ROC) as the international governance body (IGB) for the globally harmonized identifiers used to track over-the-counter (OTC) derivatives transactions.


Noted that globally harmonized identifiers and data elements can help authorities obtain a comprehensive global view of the OTC derivatives markets. Unique product identifier (UPI) identifies individual transactions reported to trade repositories, allows authorities to follow their modifications during their whole lifecycle. Critical data elements (CDE) will capture other important features of transactions.

Reference to the legal entity identifier (LEI) in the harmonized derivatives identifiers and data elements will allow consistent monitoring of legal entities’ trading activity, as well as of exposures and interconnectedness in the global OTC derivatives markets.

ROC will be responsible for the governance of UPI, the UTI, and CDE includes oversight of the Derivatives Service Bureau (DSB). ROC has been tasked with finalizing rigorous oversight arrangements of DSB.


ROC governance of harmonized derivatives identifiers starts from October 1, 2020.

For more information, visit www.fsb.org

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