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

FSB Clarifies Prefixes for Legal Entities Issued Ahead of the LEI and Allocates One for CICIs

Subscribe to our newsletter

The Financial Stability Board (FSB) has clarified the numbering scheme that must be used by organisations issuing entity identifiers that they want to transition into the global LEI system and allocated the first four-character prefix that is designed to support the transition of these identifiers.

The prefix has been allocated to the DTCC and Swift collaboration that has been issuing CFTC Interim Compliant Identifiers, or CICIs, for legal entities involved in OTC derivatives trading on behalf of the US Commodity and Futures Trading Commission since August 2012.

Clarifying its third progress note published at the end of October, which included a breakdown of the 20-character number to be used for LEIs, the FSB reiterates that pre-LEI solutions provided by pre-Local Operating Units (LOUs) that want to transition into the global LEI system when it goes live in March 2013 must adopt the numbering scheme set out for the LEI by November 30. They must also use a four-digit random number allocated by the FSB to prefix identifiers issued ahead of the global LEI system go live in March 2013.

The first prefix to be allocated and published on the FSB website covers CICIs and is 5493. More prefixes will be added if other organisations issuing identifiers want to transition them into the LEI system and can meet the numbering scheme outlined by the FSB before November 30.

Responsibility for allocating prefixes will transfer to the Regulatory Oversight Committee and Central Operating Unit of the global LEI system once they are in place early next year. It is these organisations that will then decide the rule for new four-character prefixes that will be allocated uniquely to each LOU and form part of the 20-character entity identifier used when the global system is up and running.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: In data we trust – How to ensure high quality data to power AI

Artificial intelligence is increasingly powering financial institutions’ processes and workflows, encompassing all parts of the enterprise from front-office to the back-office. As organisations seek to gain a competitive edge, they are trialling the technology in variety of ways to streamline and empower multiple use cases. Some are further than others along the path to achieving...

BLOG

Regulations in the Balance as Institutions Remain Sustainability-Focussed: ESG Summit London Review

Despite a perception that ESG is in retreat around the world, financial institutions continue to take the issue very seriously as a matter of risk management, a trend that continues to exert an influence on the data demands of organisations. It isn’t even the compliance imperatives of organisations operating in heavily regulated parts of the...

EVENT

TradingTech Summit London

Now in its 14th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Regulatory Data Handbook 2021/2022 – Ninth Edition

Welcome to the ninth edition of A-Team Group’s Regulatory Data Handbook, a publication dedicated to helping you gain a full understanding of regulations related to your organisation from the details of requirements to best practice implementation. This edition of the handbook includes a focus on regulations being rolled out to bring order and standardisation to...