Unique Transaction Identifier for OTC Derivative Transactions

RBI/2025-26/222
CO.FMRD.MIOD.No.8/11.01.057/2025-26

February 18, 2026

To

All eligible market participants

Madam / Sir,
 

Unique Transaction Identifier for OTC Derivative Transactions
 

The Unique Transaction Identifier (UTI) has been conceived as one of the key data elements identified globally for reporting over-the-counter (OTC) derivative transactions with a view to enable policy makers to obtain a comprehensive view of the OTC derivatives market.
 

2. At present, all transactions in OTC markets for Rupee interest rate derivatives, forward contracts in Government securities, foreign currency derivatives, foreign currency interest rate derivatives, and credit derivatives are reported to the Trade Repository managed by Clearing Corporation of India Limited (CCIL-TR). It has now been decided to mandate UTI for all such transactions. A framework for the implementation of UTI for OTC derivative transactions, is enclosed at Annex.
 

3. The directions shall come into effect from January 01, 2027 and shall be applicable to OTC derivative transactions entered into on or after the date the directions come into effect.
 

4. These directions have been issued in exercise of the powers conferred under section 45W of the Reserve Bank of India Act, 1934 read with section 45U of the Act and of all the powers enabling it in this behalf.
 

Yours faithfully,

(Dimple Bhandia)
Chief General Manager

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