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

Six Financial Information Adds Pre-LEIs from Avox to its Reference Data Services

Subscribe to our newsletter

Six Financial Information is mapping pre-Legal Entity Identifiers (LEIs) provided by Avox to its reference data to help users of its data services meet the reporting requirements of regulations including European Market Infrastructure Regulation (EMIR), which comes into force on 12 February, Dodd-Frank and Solvency II.

The company considered available sources of pre-LEIs in the market and whether to source the identifiers itself before deciding to work with Avox, a legal entity data specialist. Avox will source pre-LEIs from pre-Local Operating Units that allocate the identifiers and provide a consolidated file of LEIs to Six Financial Information. LEIs will be mapped to Six Financial Information’s internal identifiers via Avox identifiers, although this step will not be apparent to users of LEIs provided by Six Financial Information.

Darren Marsh, senior product manager at Six Financial Information, explains: “Our clients need to source LEIs to fulfil their reporting obligations under regulations such as EMIR, Dodd-Frank and Solvency II. We decided to take advantage of a third-party provider of LEIs to enrich our data. As well as using LEIs to meet regulatory requirements, clients can use them for broader reference data management as they help to provide data consistency.”

Six Financial Information is in the process of implementing pre-LEIs in its reference data and plans to make them available to end users from 3 February. Coverage of the identifiers will grow as more are issued. As well as providing LEIs at entity level for regulatory requirements such as reporting under EMIR, Six will provide LEIs at instrument level to support regulatory reporting under Solvency II. LEIs will be included in some services, such as Six’s Solvency II service, but they can also be provided on a standalone basis.

Tim Fox, legal entity data product manager at Avox, comments: “We acknowledge that the LEI is here to stay. There are now about 120,000 pre-LEIs in the market and we expect that number to increase significantly as the EMIR deadline approaches.”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Harnessing analytics with trusted and quality data for real-time insight and decision making

Date: 18 April 2023 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Analytics are only as good as the data they analyse, and real-time insight and decision making are only as good as the analytics they are based on, raising questions about how to ensure fundamental data quality and trust in...

BLOG

Alveo Sets Sights on Accelerating Market Data Migration to Cloud and Improving Business User Access to Data

Alveo has set out its next stage strategy with a focus on two key themes – accelerating client migration of market data to cloud, and building out its self-service data provision for business users. Also on the agenda are ESG data management, industry partnerships, and development of AI tools. To find out more about the...

EVENT

Data Management Summit New York City

Now in its 12th year, the Data Management Summit (DMS) in New York brings together the North American, capital markets enterprise data management community, to explore the evolution of data strategy and how to leverage data to drive compliance and business insight.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...