ESMA / EMIR / UTI generation: 'Final' seems to be the hardest word.

Well, this is not the name of a new song by Elton John and Bernie Taupin. 'The other ones bite the dust' could be an alternative as well.

While getting ready for the implementation of the so-called Level 1-validation rules for inter-repository reconciliation, we noticed that ESMA has obviously informed the repositories, that they will release new guidelines regarding the UTI generation and that the old ones (part of the Q & A) do not apply anymore.

So, this is really interesting. They tell you (in fact not you, but somebody else) that something does not apply anymore, that something new will come, but not, when they will deliver it. It wasn't really necessary to emphasize the fact, that ESMA does obviously not really care if these things have a direct impact on systems and software, and not only on the regulation. With rumors, that ESMA expects also a full reconciliation of already matured trades, on top, we still see room for further entertainment potential.