3 months ago
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Reserve Bank of India (RBI) has deferred the implementation of Unique Transaction Identifier (UTI) for each over-the-counter (OTC) derivatives to get a broad presumption of the marketplace by January 2027, the banking regulator said successful a statement.
“At present, each transactions successful OTC markets for Rupee involvement complaint derivatives, guardant contracts successful Government securities, overseas currency derivatives, overseas currency involvement complaint derivatives, and recognition derivatives are reported to the Trade Repository managed by Clearing Corporation of India Limited (CCIL-TR). It has present been decided to mandate UTI for each specified transactions….The directions shall travel into effect from January 01, 2027 and shall beryllium applicable to OTC derivative transactions entered into connected oregon aft the day the directions travel into effect,” RBI said successful its release.
Earlier RBI had released a draught circular stating that the deadline for the implementation of UTI is acceptable astatine April 2026. UTI serves arsenic a azygous unsocial notation for an OTC derivative transaction and is successful enactment with planetary signifier for OTC derivative reporting, RBI said successful the circle.
