Unique Transaction Identifier
Unique transaction identifier (UTI) is a unique and paired code defined by ISO 23897 for identifying a specific Over-the-Counter (OTC) derivatives transaction. It is designed to enhance markets transparency and facilitate the aggregation and harmonization of data across different jurisdictions and trade repositories. It ensures that a single transaction is identified consistently, even if it is reported in multiple jurisdictions.
In the HKTR, UTI will be utilized to link up two sides of a transaction reported by the two transacting TR members, and to facilitate TR Members to identify and resolve potential reporting errors.
As global discussions on harmonization of UTI keep evolving, the HKMA and the SFC have been monitoring international developments and maintaining a close dialogue with the industry to refine the proposal for UTI implementation in Hong Kong.
Starting from 29 September 2025, the HKMA and the SFC require reporting entities to adopt the ISO 20022 XML message format for OTC derivatives reporting to the HKTR and to commence mandatory reporting of the UTI, UPI and CDE in a “big bang” approach, as outlined in the
2024 conclusions paper on a further consultation on enhancements to the over-the-counter (OTC) derivatives reporting regime in Hong Kong.
Specific instructions on the reporting of UTI have been set out in the
SRI annexed to the Reporting Service AIDG.