USI

USIs were introduced by the Commodity Futures Trading Commission (CFTC) as part of Dodd-Frank implementation to identify swap transactions in US markets. The system predated the global UTI standard and remains in use for CFTC reporting alongside UTIs. USIs follow a specific format defined by CFTC rules and are assigned by registered swap data repositories or designated contract markets. The identifier must be unique across all US swap transactions and persist throughout the transaction lifecycle. While the global move toward UTIs provides harmonization, USIs remain important for US regulatory compliance and historical data reconciliation.