Key dates for industry to be aware of for the UPI fee model consultation process include:
- January 11th, 2021 first UPI fee consultation begins, and ends March 5th, 2021
- May 10th, 2021 second Industry Consultation, and ends July 9th, 2021
- September 9th, 2021 publication of the Final Consultation paper
Emma Kalliomaki, Managing Director of ANNA and the DSB, commented:
UPIs are being introduced as part of a package of G20 reforms to assist regulators with aggregation of global OTC derivative data to improve transparency, mitigate systematic risk and protect against market abuse. Given the global footprint of the UPI, and the need for broad market readiness, we want to give the industry advance notice about the upcoming UPI consultation process so that they have as much time as possible to prepare for engagement.
Malavika Solanki, a member of the DSB Management Team, added:
Source LinkedIn
Any firm that needs to report to a trade repository will need to have access to the UPI either directly or indirectly. The DSB is working closely with industry participants at each of the Product Committee and Technology Advisory Committee, as well as with global regulatory authorities to ensure that the UPI service meets the needs of all stakeholders. We would very much like to hear from a diverse range of globally dispersed voices so that users with differing post trade workflows have their views captured in how the UPI service is shaped in the years to come.
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