About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Bloomberg LOU Accreditation Adds to Open Symbology Strategy

Subscribe to our newsletter

Bloomberg’s accreditation as a Local Operating Unit (LOU) that can issue Legal Entity Identifiers (LEIs) as prescribed by the Global LEI Foundation (GLEIF) is bang on strategy for the company as it continues to promote open symbology and push its Financial Instrument Global Identifier (FIGI) towards ISO standardisation. Following the company’s accreditation as an LOU earlier this month, we caught up with Steve Meizanis, head of entity content management at Bloomberg, to see what this will mean for the company and its clients.

Meizanis says the LOU accreditation process took towards a year, with entities now being able to apply for LEIs from the Bloomberg LOU website, lei.bloomberg.com, the company’s Entity Exchange platform, which supports the exchange of data and documents related to trading accounts, and from the Bloomberg terminal using LEI.

Commenting on the company’s LEI offer, Meizanis says: “We offer a competitive cost structure for LEIs, which compares favourably to other issuers, and have excellent quality controls in place to authenticate and verify entity data. Our clients can make their workflows more efficient as they can apply for LEIs from the Bloomberg platform. We can also help them get LEIs for their counterparties, which provides more efficiencies. We can help firms that are not Blomberg clients to map LEIs to their systems.”

In terms of strategy, LOU accreditation fits well into Blomberg’s commitment to open standards such as the LEI and the FIGI, which is based on the company’s open symbology and is, in essence, a renamed BBGID Bloomberg identifier.

Meizanis says LOU accreditation is an extension of what Bloomberg already does and is in line with the company’s perspective that open source entity identifiers should be free. The company is pushing the FIGI through the ISO standardisation process with support from the Object Management Group, leading Meizanis to suggest that it could ultimately complement the ISIN instrument standard. 

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Are you making the most of the business-critical structured data stored in your mainframes?

Fewer than 30% of companies think that they can fully tap into their mainframe data even though complete, accurate and real-time data is key to business decision-making, compliance, modernisation and innovation. For many in financial markets, integrating data across the enterprise and making it available and actionable to everyone who needs it is extremely difficult....

BLOG

Experts Probe Data Management Best Practices for Regulatory Reporting: Webinar Preview

Compliance with regulators is getting harder for data professionals as economic volatility and geopolitical strains look set to reshape how global financial markets are overseen. As data professionals brace to take the brunt of the work needed to comply with these rapid and unpredictable changes, A-Team Group will host a webinar that will probe the...

EVENT

AI in Capital Markets Summit New York

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

Corporate Actions Europe 2010

The European corporate actions market could be the stage of some pretty heavy duty discussions regarding standards going forward, particularly with regards to the adoption of both XBRL tagging and ISO 20022 messaging. The region’s issuer community, for one, is not going to be easy to convince of the benefits of XBRL tags, given the...