Commission Implementing Regulation (EU) No 1247/2012 Article 4: Identification of Derivatives

Article 4 - Identification of Derivatives

‹

Article 4

Identification of Derivatives

›

1. A report shall identify a derivative contract using a unique product identifier which is:

((a))

unique;

((b))

neutral;

((c))

reliable

((d))

open source;

((e))

scalable;

((f))

accessible;

((g))

available at a reasonable cost basis;

((h))

subject to an appropriate governance framework.

2. Where a unique product identifier does not exist, a report shall identify a derivative contract by using the combination of the assigned ISO 6166 ISIN code or Alternative Instrument Identifier code with the corresponding ISO 10962 CFI code.

3. Where the combination referred to in paragraph 2 is not available, the type of derivative shall be identified on the following basis:

((a))

the derivative class shall be identified as one of the following:(i)commodities;(ii)credit;(iii)foreign exchange;(iv)equity;(v)interest rate;(vi)other.

((i))

commodities;

((ii))

credit;

((iii))

foreign exchange;

((iv))

equity;

((v))

interest rate;

((vi))

other.

((b))

the derivative type shall be identified as one of the following:(i)contracts for difference;(ii)forward rate agreements(iii)forwards;(iv)futures;(v)options;(vi)swaps;(vii)other.

((i))

contracts for difference;

((ii))

forward rate agreements

((iii))

forwards;

((iv))

futures;

((v))

options;

((vi))

swaps;

((vii))

other.

((c))

in the case of derivatives not falling into a specific derivative class or derivative type, the report shall be made on the basis of the derivative class or derivative type that the counterparties agree the derivative contract most closely resembles.