DTCC, Swift Top Ranking of LEI Infrastructures

The Depository Trust & Clearing Corporation (DTCC) and Swift, which are partnered to provide legal entity identifiers (LEIs) in the US, have been named as most comprehensive in the first quarterly ranking of LEI infrastructures by the Tabb Group consultancy.

The new Tabb Group ranking measures validity and comprehensiveness of LEI data aggregated by P-lei.org, the LEI distribution consortium project begun last year, using criteria including number of entries, validity of regional information and completeness of LEI field information.

"We are pleased to have been recognized as the leading LEI provider globally," says William Hodash, managing director, business development, DTCC. "We remain committed to ensuring that the GMEI [Global Markets Entity Identifier, DTCC and Swift's joint utility] meets the evolving needs of regulators and market participants alike, by providing high-quality legal entity reference data to enable the global financial system to deliver significantly improved systemic risk and counterparty risk management."

The ranking process included testing of information validity against standard country and region codes, to determine the percentage of accurate records, says Larry Tabb, founder and CEO of Tabb Group. "The higher the percentage [of comprehensiveness], the more populated fields each LEI record contains," he says.

The Tabb Group rankings included 14 providers. Following DTCC and Swift, which had a 97% comprehensive rating with 142,548 records, in order: WM Datenservice (50,410 records); London Stock Exchange (25,209 records); Unione Italiana per le Camere di Commercio, Industria, Argtigianato e Agricoltura (21,803); Institut National de la Statistique et des Etudes Economiques (18,777); Dutch Chamber of Commerce (9,722); Registro Mercanti del Reino de España (9,530); Centraini Depozitar Cennych Papiru (4,528); Krajowy Depozyt Papierow Wartosciowych (4,200); Irish Stock Exchange (1,812); National Board for Patents and Registration (1,717); Bundesanzeiger Verlag (223); Takasbank (61) and National Settlement Depository (50).