On October 23, 2025, the Reserve Bank of India (RBI) released a draft circular on Unique Transaction Identifier (UTI) for OTC Derivative Transactions in India. The circular is available on the RBI website at www.rbi.org.in. The RBI is inviting comments from banks, market participants, and other interested parties by November 14, 2025.
Feedback on the draft circular can be forwarded to The Chief General Manager, Reserve Bank of India, Financial Markets Regulation Department, 9th Floor, Central Office Building, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001, or by email with the subject line “Feedback on Draft Circular on Unique Transaction Identifier for OTC Derivative Transactions in India".
The Unique Transaction Identifier (UTI) is a key data element identified globally for reporting OTC derivative transactions, along with the Legal Entity Identifier (LEI). The UTI serves as a unique reference number for each transaction, facilitating a comprehensive view of OTC derivatives markets. LEI has already been mandated for OTC derivative transactions in most major jurisdictions globally.
Press Release: 2025-2026/1367. Contact (Brij Raj), Chief General Manager. Phone: 022 - 2266 0502. Email: helpdoc@rbi.org.in.
Key Entities Referenced
Draft circular on Unique Transaction Identifier for OTC Derivative Transactions in India: Draft circular released by RBI concerning Unique Transaction Identifier for Over-the-Counter (OTC) derivative transactions in India.
Reserve Bank of India: The central bank of India; issuer of the draft circular.
Unique Transaction Identifier (UTI): A key data element identified globally for reporting of OTC derivative transactions.
Mumbai: Location of Reserve Bank of India's office to which feedback needs to be provided.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
October 23, 2025
RBI releases Draft circular on Unique Transaction Identifier for OTC Derivative
Transactions in India
The Reserve Bank of India today placed on its website a Draft circular on Unique
Transaction Identifier for OTC Derivative Transactions in India. Comments on the
draft Circular are invited from banks, market participants and other interested parties
by November 14, 2025.
Feedback on the draft Circular may be forwarded to:
The Chief General Manager
Reserve Bank of India
Financial Markets Regulation Department
9th Floor, Central Office Building
Shahid Bhagat Singh Marg, Fort
Mumbai – 400 001
Or by email with subject line “Feedback on Draft Circular on Unique Transaction
Identifier for OTC Derivative Transactions in India”.
Background and Objective
Unique Transaction Identifier (UTI) is one of the key data elements identified
globally for reporting of OTC derivative transactions, along with the Legal Entity
Identifier (LEI). While the LEI uniquely identifies the counterparties to an OTC
derivative transaction, the UTI serves as a single unique reference number for a
transaction. It enables policy makers to obtain a comprehensive view of OTC
derivatives markets by facilitating global aggregation of transactions. The reporting of
LEI has been mandated for OTC derivative transactions in most major jurisdictions
globally. UTI has also been implemented / is in the process of being implemented in
many of the major jurisdictions. In India, LEI has already been implemented. It is now
proposed to mandate UTI for all OTC derivative transactions.
(Brij Raj)
Press Release: 2025-2026/1367 Chief General Manager