BIS’ Committee on Payments and Market Infrastructure (CPMI) and IOSCO are consulting on a harmonised global unique product identifier (UPI). The UPI will uniquely identify OTC derivatives products that authorities require to be reported to trade repositories. The UPI would consist of a product classification system and associated code. The focus of this report is the product classification system. Consultation closes on 24 February 2016. (Source: CPMI and IOSCO Consult on Harmonising UPI)