Missing UTIs will cause reporting chaos, corporates warn

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Dealers and their clients are blaming each other for a lack of progress on unique trade identifiers (UTIs) – the tag required for every over-the-counter and listed derivatives transaction under new European reporting rules, which take effect on February 12. Many market participants are expected to break the rules as a result of the delays, with some predicting chaos. Banks are taking the lead in generating UTIs, but they claim clients have been slow to act and many appear to be in the d