Talking Reference Data with Sarah Underwood: Data Quality and the LEI
Progress in the development of a global legal entity identifier (LEI) system, including the issue of 83,000 pre-LEIs by two active pre-Local Operating Units (LOUs), is acting as a catalyst for change with many financial institutions investing heavily to get their entity data in order. The process should prove beneficial in terms of improved data...
Tim Fox Moves out of Interactive Data and into Avox
Avox, the DTCC subsidiary dedicated to maintaining business entity reference data, has hired Tim Fox to the new role of product manager. Fox joins Avox from Interactive Data, where he was product marketing manager with responsibility for all aspects of the company’s Solvency II sales. He also worked with business and line management to agree...
S&P Capital IQ Builds Out Cross-Referencing Capabilities to Cover Entity Identifiers
S&P Capital IQ is addressing the need to cross reference emerging legal entity identifiers (LEIs) in a broad cross-referencing service covering over two million public and private entities that use standard and proprietary identifiers. The service is called the Business Entity Cross Reference Service and is designed to help users identify systemic and counterparty risk,...
CounterpartyLink Supports Client Data Off-Boarding to Improve Efficiency and Cut Costs
CounterpartyLink, a provider of global legal entity and counterparty data, has reversed the concept of client on-boarding with the offer of a client off-boarding service designed to help large financial institutions clean up their client databases, improve operational efficiency and reduce operating costs. The company has been working with a handful of clients to off-board...
GoldenSource Sets out LEI Store and Suggests an Entity Data Utility to Commoditise Compliance
GoldenSource is addressing the arrival of legal entity identifiers (LEIs) with its existing enterprise data management (EDM) software and the suggestion of a data utility that could commoditise compliance with regulations based on the LEI. The company has made its software LEI ready by allowing users to add LEI codes as additional or primary entity...
DTCC Plans Vendor Workgroup to Tackle Data Accuracy of the CICI and LEI
DTCC has responded to criticisms covering the accuracy and quality of CFTC Interim Compliant Identifiers (CICIs) it issues on behalf of the Commodity Futures Trading Commission (CFTC) saying data issues highlighted in a blog by data consolidator Alacra are the result of how business rules are being applied to entity registrations. Despite its defence, DTCC...
A-Team Group Webinar Reveals Significant Issues in Development of the Global LEI System
The global legal entity identifier initiative is well underway with a Regulatory Oversight Committee providing governance and pre-Local Operating Units assigning legal entity identifiers, but the ultimate success of the system depends on the as yet unformed Central Operating Unit, the quality of entity data and its ongoing maintenance. These issues and more related to...
Regulatory Oversight Committee Updates LEI Development Progress
The Regulatory Oversight Committee (ROC) of the global legal entity identifier (LEI) initiative has made its second report on development of the LEI system, detailing progress in each of the three tiers that make up the system and noting ongoing plans for pre-Local Operating Units (LOUs) and pre-LEIs. The report does not address the burning...
WM Datenservice Leads Effort in Europe to Issue pre-LEI Entity Identifiers
WM Datenservice, acting as a pre-Local Operating Unit (LOU) in the global legal entity identifier (LEI) system, has registered 10 German companies with pre-LEI codes called German Entity Identifiers (GEIs) since it started issuing codes early this month. WM suggests it could issue GEIs to companies outside Germany if more pre-LOUs are not up and...
CFTC Data Crisis Provides Lessons for Developers of the Global Legal Entity Identifier System
The Regulatory Oversight Committee (ROC) of the global legal entity (LEI) initiative has yet to comment publicly on the data crisis at the Commodity Futures Trading Commission (CFTC) involving the use of pre-LEI CFTC Interim Compliant Identifiers, or CICIs, in swaps reporting. But it must be observing the situation – and absorbing valuable lessons learned...