The International Organization of Securities Commisions (IOSCO) issued a report providing technical guidances to regulatory authorities, in order to assess definitions and formats of a set of OTC derivatives which are reported to trade repositories.
Specifically, the report provides the guidelines for harmonizing data elements concerning these transactions, that is, of settlement dates, counterparties, collaterals and so on. The report is presented as “jurisdiction-agnostic”, in the sense that it aims at taking account of any relevant international regulatory standard but it does not provide thorough definitions of the methodologies to apply to data in order to reach a sufficient harmonization level.
Harmonised critical data elements can facilitate global aggregation of data, so that the international authorities can use them to build a cross-border overview of the aggregate OTC market, and favour international amendments contrating the propagation of systemic-type risks. Details can be found in the original report: