Imported from previous forum
The Global Technical Committee has reviewed and preliminarily approved the GFIC Mid-Market Mark and USI Extension Proposal. This Gap Analysis proposal from the GFIC proposes enhancements that will be used to meet the requirements of swap dealers and major swap participants to provide counterparties with pre-trade mid-market marks. Additionally the proposal also adds the existing RegulatoryTradeIDGrp component to two existing messages.
The document now enters a public comment period in which public review and feedback is encouraged. Once the public comment period closes, the Global Technical Governance Board will meet to review public comments before final approval.
Please post feedback, comments, and questions as replies to this discussion thread.
A link to the proposal can be found at:
http://www.fixprotocol.org/documents/7720/GFIC%20Mid-Market%20Mark%20and%20USI%20Extension%20v0.4.docx
The public comment period ends on August 16, 2013.
Section 1.1.2 of proposal states “Transaction Identifier - consists of maximum 32 alpha-numeric (uppercase) characters.”
However, CFTC regulations for the Transaction Identifier explicitly allow upper and lower case letters, as well as certain special characters (colon, hyphen, period, & underscore)as internal delimiters.
Excerpt below from CFTC USI standard: (http://www.cftc.gov/ucm/groups/public/@swaps/documents/dfsubmission/usidatastandards100112.pdf)
Transaction Identifier
The transaction identifier is an identifier of variable length, to a maximum of 32 characters. The identifier is composed of alphanumeric characters with an additional set of “special” characters permissible as internal delimiters, subject to the following restrictions:
• Permitted special characters are: colon, hyphen (minus), period (full stop), underscore
• The identifier may not start or end with a special character
• Sequences of multiple consecutive special characters are not permitted
This pattern is expressed as follows:
[a-zA-Z0-9]+([_:.-][a-zA-Z0-9]+)*
The Global Technical Committee has reviewed and preliminarily approved the GFIC Mid-Market Mark and USI Extension Proposal. This Gap Analysis proposal from the GFIC proposes enhancements that will be used to meet the requirements of swap dealers and major swap participants to provide counterparties with pre-trade mid-market marks. Additionally the proposal also adds the existing RegulatoryTradeIDGrp component to two existing messages.
The document now enters a public comment period in which public review and feedback is encouraged. Once the public comment period closes, the Global Technical Governance Board will meet to review public comments before final approval.
Please post feedback, comments, and questions as replies to this discussion thread.
A link to the proposal can be found at:
http://www.fixprotocol.org/documents/7720/GFIC%20Mid-Market%20Mark%20and%20USI%20Extension%20v0.4.docxThe public comment period ends on August 16, 2013.
Thanks Sara,
Indeed the exact format of the USI is as you have specified. The error originated from some of the external documents we used to compile this gap analysis.
We are happy to correct section 1.1.2 to say:
“The CFTC have published technical standards for the format of USI and this document details the structure of the USI as described below:
• Namespace – consists of 10 alpha-numeric (uppercase) characters [3 digits prefix, followed by 7 character identifier]
• Transaction Identifier - consists of maximum 32 characters (alpha-numeric with an additional set of special characters [colon, hyphen (minus), period (full stop), underscore] permissible as internal delimiters).”
Please note that other requirements in the document do not change.
Kind Regards
Yuval Cohen
Section 1.1.2 of proposal states “Transaction Identifier - consists of maximum 32 alpha-numeric (uppercase) characters.”
However, CFTC regulations for the Transaction Identifier explicitly allow upper and lower case letters, as well as certain special characters (colon, hyphen, period, & underscore)as internal delimiters.
Excerpt below from CFTC USI standard: (http://www.cftc.gov/ucm/groups/public/@swaps/documents/dfsubmission/usidatastandards100112.pdf)
Transaction Identifier
The transaction identifier is an identifier of variable length, to a maximum of 32 characters. The identifier is composed of alphanumeric characters with an additional set of “special” characters permissible as internal delimiters, subject to the following restrictions:
• Permitted special characters are: colon, hyphen (minus), period (full stop), underscore
• The identifier may not start or end with a special character
• Sequences of multiple consecutive special characters are not permitted
This pattern is expressed as follows:
[a-zA-Z0-9]+([_:.-][a-zA-Z0-9]+)*The Global Technical Committee has reviewed and preliminarily approved the GFIC Mid-Market Mark and USI Extension Proposal. This Gap Analysis proposal from the GFIC proposes enhancements that will be used to meet the requirements of swap dealers and major swap participants to provide counterparties with pre-trade mid-market marks. Additionally the proposal also adds the existing RegulatoryTradeIDGrp component to two existing messages.
The document now enters a public comment period in which public review and feedback is encouraged. Once the public comment period closes, the Global Technical Governance Board will meet to review public comments before final approval.
Please post feedback, comments, and questions as replies to this discussion thread.
A link to the proposal can be found at:
http://www.fixprotocol.org/documents/7720/GFIC%20Mid-Market%20Mark%20and%20USI%20Extension%20v0.4.docxThe public comment period ends on August 16, 2013.