UPI Creation: No New Product Should Ever Hold Up Your Trade Reporting

Derivatives markets move faster than reference data can keep up. A trading desk executes something new, a bespoke structure, a first-of-its-kind combination of attributes, and the Unique Product Identifier that regulators expect on the report simply does not exist yet. Someone has to request it, wait for it, and make sure the trade does not go out the door with a missing or duplicated identifier in the meantime.

Handled manually, that is a bottleneck with real regulatory risk attached. Miss the step, and you either delay the report past its deadline or submit one with bad reference data. Do it inconsistently across a desk, and you risk duplicating manual effort chasing a UPI that already exists.

KOR's UPI Creation removes the manual scramble and is built directly into the reporting pipeline, so a request to ANNA DSB happens automatically, only when it is genuinely needed, and the trade is never left waiting on a person to notice.

What Is UPI Creation?

UPI Creation is the process by which KOR's platform automatically requests a new Unique Product Identifier (UPI) from ANNA DSB when a financial instrument's attribute set has no existing match in the UPI database.

It only triggers after a UPI Lookup has confirmed that no matching UPI exists, so no request goes out unless it is actually required.

Once a creation request is submitted, the trade is parked while ANNA DSB processes it. When the new UPI comes back, KOR persists it locally and enriches the trade message with it before the report proceeds. The desk does not need to track any of this manually. It happens inline, as part of the same reporting flow every other trade goes through.

A Dedicated UPI Lookup Service

UPI Creation doesn't run in isolation. It's paired with KOR's UPI Lookup service, which checks every instrument against the local UPI database (and ANNA DSB where needed) before any creation request is considered. The two work in tandem: Lookup finds a match if one exists, Creation only kicks in when it doesn't. Together they mean no product ever goes unreported for lack of an identifier, and no duplicate UPI gets requested for something you already have.

How UPI Creation Fits Into the Reporting Flow

The sequence is straightforward: Lookup → No Match → Create → Park → Receive → Persist → Enrich → Report. What matters is what each stage protects you from.

Lookup-Before-Create

Every instrument is checked against the local UPI database first. If a match is found, creation is skipped entirely and the trade proceeds with the existing UPI. This is what keeps the database clean and prevents the platform from ever requesting a duplicate identifier for an instrument that is already covered.

ANNA DSB Integration

When no match exists, KOR submits the creation request directly to ANNA DSB, Production or UAT, through the API, with the instrument's full attribute set attached. This does require some setup on your end: your UPI Access Entity needs a Power subscription with ANNA DSB and needs to have opted into the UPI Creation Service with KOR. Once that is in place, submission is automatic.

Submission Parking

While ANNA DSB processes the request, the trade submission is held in a parked state rather than reported with missing or placeholder data. As soon as the response comes back, KOR automatically re-enriches the trade and releases it, no manual follow-up required to un-stick anything.

Persist and Index

Every new UPI and its attributes get written to KOR's UPI Database the moment they are received. That means the next trade with the same attribute set finds a match on lookup instead of triggering another creation request. The database gets smarter with every new product your desk trades.

A Dedicated UAT Environment

Testing this flow against production ANNA DSB isn't something you want to do casually. KOR maintains a dedicated UAT environment with its own isolated UPI table, so you can exercise the full creation and lookup flow end to end without touching production data. Test UPIs stay test UPIs and can never leak into a real regulatory filing. Which ANNA DSB environment you connect to (Production or UAT) follows the KOR environment you're connected to, so your test and live flows stay cleanly separated by design.

Who Is UPI Creation For?

If your desk trades products that are new, bespoke, or infrequent enough that a matching UPI is not guaranteed to already exist, this is built for you. That covers a lot of ground: structured derivatives, newly launched products, and any instrument where the attribute combination is genuinely novel. Rather than relying on someone to notice a missing UPI and chase it down, the platform catches it as part of the normal reporting flow, requests it, and gets the trade reported correctly without anyone needing to intervene.

The Bottom Line

A missing UPI should never be the reason a trade report is late or wrong. KOR's UPI Creation checks first, creates only when needed, holds the trade safely while it waits, and gets everything enriched and reported the moment ANNA DSB responds. No manual tracking, no duplicate requests, no guesswork about what happens next.

That is what UPI reporting should look like when the product is new but the process isn't.

FAQ: UPI Creation

What is a UPI in derivatives reporting? A Unique Product Identifier (UPI) is a standardized code, defined under ISO 4914 and issued by ANNA DSB, that identifies a class of OTC derivative product for regulatory reporting purposes across jurisdictions including CFTC, EMIR, ASIC, and MAS. It works alongside the Unique Transaction Identifier (UTI) to give regulators a consistent, aggregatable view of derivatives risk.

When does UPI Creation get triggered? Only after a UPI Lookup confirms that no existing UPI matches the instrument's attribute set. If a match is found, KOR uses the existing UPI and skips creation entirely.

What happens to the trade while a new UPI is being created? The trade submission is held in a parked state until ANNA DSB returns the new UPI. KOR then automatically enriches the trade and releases it for reporting, with no manual follow-up needed.

Do I need anything set up with ANNA DSB to use UPI Creation? Yes. Your UPI Access Entity needs a Power subscription with ANNA DSB and needs to have opted into the UPI Creation Service with KOR.

Can I test UPI Creation without affecting production data? Yes. KOR maintains a dedicated UAT environment with its own isolated UPI table, so the full creation and lookup flow can be tested without touching production data or incurring production API costs.

How KOR Can Help

KOR's Reporting Services platform handles UPI Lookup and UPI Creation as a single, automated step in the reporting pipeline, so your team never has to manually track down a missing identifier or worry about duplicate requests. Paired with KOR's Pre-Validation and regulated Trade Repository services, it's one part of a platform built to keep multi-jurisdiction derivatives reporting accurate and on time.

Contact KOR

Want to see how UPI Creation fits into KOR's broader Reporting Services platform? The KOR team is happy to walk through it.

Schedule a Demo: See UPI Creation and lookup in action. Contact our solutions team at sales@korfinancial.com.

Speak with an Expert: Have questions about UPI requirements in your jurisdiction? Reach out directly via our contact page at korfinancial.com.

General Inquiries: For all other questions about the KOR reporting platform, get in touch at info@korfinancial.com.