Mumbai, Oct. 24 -- The Reserve Bank of India (RBI) has released a draft circular introducing the Unique Transaction Identifier (UTI) framework for over-the-counter (OTC) derivative transactions in India. The UTI is a globally recognised data element in derivative reporting and is in addition to the Legal Entity Identifier (LEI), which identifies counterparties to a transaction. While the LEI traces "who" is involved, the UTI identifies "which transaction" is being reported, allowing regulators to obtain an aggregated view of global OTC derivatives exposures.

RBI is planning to mandate Unique Transaction Identifier (UTI) for all over-the-counter (OTC) derivative transactions of market participants with effect from April 1, 2026. UTI will ...