Legal Entity Identifiers special report
Click here to download the PDF
Reaping the Rewards of LEI
After going through the process of defining the legal entity identifier
(LEI) at the behest of the US Office of Financial Research, and then seeking cooperation from countries worldwide, financial services firms are starting to see the benefits of implementation, as related by participants in the Virtual Roundtable in this special report about LEI.
³[The LEI] provides investment firms a common language to communicate about our counterparties, permits us to quickly assess risk in a major credit event, and will eventually bring efficiencies to on-board and the data maintenance process,² says Kyle Mooney, a vice president for reference data services at Credit Suisse. Beyond these functional benefits, Cheryl Mack, head of the data management group at UBS Global Asset Management, Americas, says she expects 5060% of data managers in the financial services industry would implement LEIs even without the regulatory requirement.
Service providers are now more focused on LEI needs, coming forward with necessary data integration capabilities. ³Existing technologies and approaches have not proven to be effective,² acknowledges Peter Ku, director of financial services, solutions marketing at Informatica. Leveraging data integration to obtain counterparty data, reconcile, match and relate counterparties, are all parts of its solution, he adds. Others, such as Alacra, focus on mapping identifier data. Scott Preiss, a vice president at Cusip Global Services, sees LEI as important to all financial services firms, and Tony Brownlee, a managing director at data services provider Kingland, says he believes the LEI has value for risk management, compliance and data operations strategy.
With such a representative group of data professionals all attesting to the indispensable nature of the LEI for data management, it¹s no wonder the industry is seeing so much activity in LEI implementation, as our Roundtable conversation indicates.
Click here to download the PDF
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Regulation
FCA: Consolidated tape for UK equities won’t happen until 2028
At an event last week, the FCA proposed a new timeline for the CT, which received pushback from participants, according to sources.
Cusip Global Services wants to know, ‘What’s your damage?’
The evidence and discovery phase of the case against the identifier bureau is set to expire in March, bringing an anticipated jury trial one step closer.
Big questions linger as DORA compliance approaches
The major EU regulation will go live tomorrow. Outstanding clarifications and confusion around the definition of an ICT service, penetration testing, subcontracting, and more remain.
Insurance: The role of risktech in effectively managing emerging risks and driving competitive edge
This whitepaper covers the global survey, conducted by Chartis Research and TCS, of banking, financial services and insurance firms, which found that insurers are struggling to adapt to evolving risks and regulatory requirement increases. Chartis offers…
FX automation key to post-T+1 success, say custodians
Custody banks saw uptick in demand for automated FX execution to tackle T+1 challenges.
Observations and lessons to learn from the move to T+1
The next few years will see other jurisdictions around the world look to North America for guidance on transitioning to shorter settlement cycles.
Expanded oversight for tech or a rollback? 2025 set to be big for regulators
From GenAI oversight to DORA and the CAT to off-channel communication, the last 12 months set the stage for larger regulatory conversations in 2025.
DORA flood pitches banks against vendors
Firms ask vendors for late addendums sometimes unrelated to resiliency, requiring renegotiation
