4.2.5.1 Inclusion of CDEs (general information)

133. Technical Guidance on Harmonisation of critical OTC derivatives data elements (other than UTI and UPI) (also referred to as “CDE guidance”) is one of the reports delivered by the CPMI-IOSCO Harmonisation Group. It follows a request from FSB to develop global guidance on the harmonisation of data elements reported to TRs and important for the aggregation of data by authorities. The report comprises technical guidance on 101 data elements, including their definitions, formats, allowable values and existing industry standards.

134. Furthermore, the CDE guidance provides further recommendations concerning governance, maintenance and implementation of CDE. In particular, it recommends that CDE are adopted as an ISO standard and included in ISO 20022 by means of creating dedicated ISO 20022 messages. At this stage the international work on the development of these messages is ongoing and ESMA intends that the future ISO 20022 messages for reporting under EMIR are compliant with and leverage on CDE messages.

135. The CDE guidance is addressed to authorities, rather than directly to market participants. This means that it is in the remit of respective authorities to issue specific reporting requirements to market participants. In particular, it is for the authorities to decide which of the data elements covered by the guidance should be reported in their jurisdictions.