Alphabet soup of transaction codes might be getting muddled

02/11/2013 | Securities Technology Monitor

The proliferation of transaction codes might be causing confusion, experts say. "Does the originator of a transaction get identified with USIs? No, the originator gets a [derivatives-clearing organization's] internal counterparty number, a [National Futures Association] ID if they come with that or a [Commodity Futures Trading Commission Interim Compliant Identifier] if they present that," said Allan Grody, president of Financial Intergroup. "The rest of the USI is a transaction identifier, unique to the swap, not the swap business entity that was the transactor."

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