Rule Configurations
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      KOR RS: What is best practice for UTI submission/generation?

      How KOR Financial Supports UTI Generation When You Are the UTI Generator

      KOR Financial offers two compliant and flexible methods for clients designated as the UTI generator under global reporting regulations. These approaches help ensure UTIs are created consistently, accurately, and in alignment with CPMI-IOSCO standards.

      Option 1: KOR-Constructed UTI via Client Logic (Client Data-Based UTI)

      Use Case:
      You prefer to generate the UTI using reference fields from your internal systems (e.g., trade ID, timestamp, counterparty ID).

      How It Works:

      • KOR receives pre-agreed data fields from your trade capture, OMS, or EMS systems.

      • A rules-based engine within KOR constructs the UTI using the values you submit.

      • The resulting UTI conforms to CPMI-IOSCO structure and format standards.

      LEI Used:
      Your firm’s LEI is used in the construction. Since you are the UTI generator, KOR does not use its own LEI and cannot guarantee uniqueness across all your trades.

      Benefits:

      • Maintains alignment with your internal transaction reference framework.

      • Enables the same UTI to be used across confirmations and other workflows without relying on KOR lookups.

      Client Considerations:

      • Ensure the combination of fields used in UTI construction will:

        • Always produce a unique value

        • Stay within the 52-character limit

        • Exclude invalid characters (e.g., special characters)

      • Account for lifecycle events that may require a new UTI (e.g., if a correction is needed).

      • Confirm that internal systems do not change UTI fields retroactively.

      • Consider how packages are managed—if only one leg is submitted, the logic may need to accommodate that.

      Option 2: KOR-Generated UTI

      Use Case:
      You prefer KOR to independently generate and manage UTIs for your reportable transactions.

      How It Works:

      • KOR generates a globally unique UTI using its LEI and a system-generated GUID.

      • The UTI is stored and made available via API, dashboard, or retrieval query.

      • No need for you to construct or manage UTI logic internally.

      Example:

      • KOR Financial’s LEI: 254900VAP7YD635DD868

      • Generated UTI: 254900VAP7YD635DD86820250416XYZ78901

      LEI Used:
      KOR’s LEI is used, consistent with CPMI-IOSCO guidance on third-party generation.

      Benefits:

      • Reduces internal complexity and operational burden.

      • Guarantees uniqueness and compliance across global jurisdictions.

      • Ideal for delegated or assisted reporting scenarios.

      Client Considerations:

      • Ensure the KOR-generated UTI is stored in your system and used in all outbound messages and confirmations.

      • If you currently rely on a platform (e.g., confirmation vendor) to generate UTIs, consider aligning it to instead accept and use the UTI provided by KOR.

      Additional Notes on UTI Responsibilities

      If You Are Not the UTI Generator:

      • The UTI must be submitted to KOR as part of your message.

      • Your reporting configuration must differentiate between scenarios where you are vs. are not the UTI generator.

      • The logic is typically set up as a cascading decision. 

      What if I don't have the UTI when I submit?

      KOR’s Assurance and Controls

      Regardless of the method selected, KOR ensures:

      • Compliance with CPMI-IOSCO structural standards

      • Global uniqueness across UTIs

      • Full audit trails and version control

      • Validation before submission to prevent UTI-related rejections