Current Affairs · Banking & Financial Regulations
In the context of the operational lifecycle of the Unique Transaction Identifier (UTI) for over-the-counter (OTC) derivative transactions, how must market participants manage identifiers during contractual modifications?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1For all cross-border transactions, any contract modification defaults to a temporary identifier for five Mumbai business days before a final code is assigned by the repository.
- 2The generation of a new identifier is only required if the underlying asset class of the derivative is altered, regardless of whether an entirely new contract is drafted.
- 3While minor contractual amendments permit the continued use of the original identifier, foundational structural changes such as novation require the generation of a new identifier.✓
- 4A new Unique Transaction Identifier must be generated for every amendment to ensure the regulatory audit trail reflects the exact sequence of all negotiated changes.
Correct answer
While minor contractual amendments permit the continued use of the original identifier, foundational structural changes such as novation require the generation of a new identifier.
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