OTC Clearing Firm Advisory – USI to UTI Changes for the CFTC Part 45 Regulations - Effective July 20, 2022

Please be advised that CFTC regulation § 45.5 is changing to support the adoption of Unique Transaction Identifiers, with a production compliance date of December 5, 2022. To allow significant time for firms to test the change, CME Clearing (CME) will make the following changes to all OTC trades in New Release on Wednesday, July 20, 2022:

USI to UTI Changes

1. The UTI tag will be present on new trade and Lifecycle event messaging and the trade register instead of USI
2. For IRS, a new mandatory cleared confirm schema is available to reflect the new UTI tag
3. The UTI will begin with the Chicago Mercantile Exchange LEI “SNZ2OJLFK8MNNCLQOF39” followed by followed by unique   upper-case alphanumeric characters
4. New trades cleared will not carry USI in messaging, and the USI column will not be populated
5. The USI column will persist for legacy trades

For the full text of this advisory, please click here.