Critical Data Elements (CDE)
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      3. Critical Data Elements (CDE)

      What are Critical Data Elements (CDE)?

      The Critical Data Elements other than UTI and UPI (CDE)

      The Critical Data Elements other than UTI and UPI (CDE) include data elements of an OTC derivative transaction reported to TRs and important to aggregation by authorities. Setting a standardized definition, format and allowable values provides better understanding on the contents of the transaction and will provide transparency for all OTC derivative transactions. The CDE include data elements related to:

      • Dates and timestamps;

      • Counterparties and beneficiaries;

      • Clearing, trading, confirmation and settlement;

      • Regular payments;

      • Valuation;

      • Collateral and margins;

      • Counterparty rating triggers;

      • CDS Index Attachment & Detachment Point;

      • Other payments;

      • Prices and quantities;

      • Packages and links;

      • Custom baskets.

      The CDE have been included within the ISO 20022 data dictionary and maintained by ISO. An ISO 20022-compliant message for CDE has been published in the ISO 20022 repository.

      Technical Guidance for CDE

      The Technical Guidance for critical OTC Derivatives Data Elements (other than UTI and UPI) was published by CPMI and IOSCO on 9 April 2018 as technical guidance to authorities. It provides harmonised definitions, formats and allowable for the CDE to be used by the authorities when implementing their OTC transactions reporting requirements. To meet their own reporting requirements, some jurisdiction may also require additional information, which may not be included in the Technical Guidance. Finally, although the mandate for CPMI and IOSCO to harmonise CDEs was for OTC derivatives only, some authorities may wish to implement the Technical Guidance for non-OTC derivative transactions as well.

      The ROC, in its capacity of IGB, is now in charge of a number of responsibilities spelled out in the Governance Arrangements for critical OTC Derivatives Data Elements (other than UTI and UPI)  (CPMI-IOSCO, October 2019) and now included in the ROC Charter (see also Mandate of the ROC). These include updates or changes to the CDE Technical Guidance as necessary. Updated versions of the CDE Technical Guidance may be available among the ROC's publications.