Page 173 - PRIAA Glossary
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UNIQUE SWAP IDENTIFIER (USI)/UNIQUE TRANSACTION IDENTIFIER (UTI)
A universal and unique code identifying a single transaction made in the OTC derivatives market.
UNRECOGNISED TRADE
A transaction that cannot be identified by the alleged counterparty to the trade.
UPSTREAM
All activities related to the exploration and production of crude oil and natural gas.
UP-VARIANCE SWAP
A conditional variance swap that accrues realised volatility only when the previous day’s underlying price is above a specified level.
URALS
A brand of oil which is used as a standard for benchmarking and pricing Russian crude oil mixtures. It is traded as Russian Export Blend Crude Oil (REBCO) on the New York Mercantile Exchange (NYMEX).
US PERSON
Defined by the Commodity Futures Trading Commission (CFTC), to aid in the cross-border application of Title VII of the Dodd-Frank Act, as any natural person who is a resident of the United States and any estate of a decedent who was a resident of the United States at the time of death.
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