The Committee on Payment and Settlement Systems (CPSS) and the International Organisation of Securities Commissions’ (IOSCO) joint working group last week produced a consultative report on the means via which OTC derivatives data should be collected, stored and disseminated by trade repositories across the globe. The report notes the information gaps that currently exist in the regulatory arena, including the lack of a legal entity identification (LEI) standard, which it says is an “essential tool” for data aggregation purposes. The group also indicates that an international product classification system for derivatives is the correct direction to be moving (see more on which here).

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