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

S&P Capital IQ Stands Ready to Fulfil Regulatory Oversight Committee Requirement for LEI Hierarchy Data

Subscribe to our newsletter

S&P Capital IQ is ready to meet the data hierarchy requirements for Legal Entity Identifiers (LEIs) that are expected to be set out by the Regulatory Oversight Committee (ROC) of the Global LEI System towards the end of this year. The company’s offer is based on existing products and can extend beyond LEI hierarchy data to link entities not only to ultimate parent companies but also to instruments at the trading level.

The company made its first commitment to entity hierarchy data a decade ago when it introduced Crosswalk, a solution that tracks instrument ownership from issuer to domestic and global parent companies. In 2013, S&P Capital IQ introduced its Business Entity Cross Reference Service (BECRS), which provides immediate hierarchy and cross reference capabilities for almost 6 million public and private entities using standardised and proprietary identifiers including the global LEI, S&P Capital IQ Company ID, S&P Capital IQ Ultimate Parent ID, rating agency identifiers and Cusip issuer numbers.

In 2014, the company went on to add a Global Instruments Cross Reference Service (GICRS) that resolves the securities numbering problem in a global trading and processing environment by allowing access to a comprehensive database of security identifiers that cross reference almost 19.5 million instruments.

Lance Risi, global product manager of cross reference solutions at S&P Capital IQ, explains: “We have a hierarchy solution that links LEIs to associated entities up and down a corporate structure, as well as to securities associated with those entities. To date, we have captured 90% of LEIs and we will soon reach 100%. We source LEI data directly from Local Operating Units within the Global LEI System and cleanse the data before it is distributed.”

While customers can select standalone data services covering entity level identifiers via BECRS or instrument level identifiers via GICRS, Risi says most customers subscribe to S&P Capital IQ’s complete cross reference solution, which allows clients to link from the trading level up to the ultimate parent for a top down view of an entire corporate structure. Many of the company’s customers are financial institutions that can benefit from cross reference services when complying with regulations such as Solvency II, Dodd-Frank and European Market Infrastructure Regulation. Other use cases for S&P Capital IQ’s cross reference solution, which is delivered using the company’s Xpressfeed data feed management solution, include internal risk management and sanctions screening.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Unpacking Stablecoin Challenges for Financial Institutions

The stablecoin market is experiencing unprecedented growth, driven by emerging regulatory clarity, technological maturity, and rising global demand for a faster, more secure financial infrastructure. But with opportunity comes complexity, and a host of challenges that financial institutions need to address before they can unlock the promise of a more streamlined financial transaction ecosystem. These...

BLOG

Robust Data Management Still the Silver Bullet for AI Challenges

As the maturity of artificial intelligence applications evolves, financial institutions are finding that the solution to the challenges associated with the technology of data quality and trust can be found in data management. Guaranteeing good outcomes from their models requires that organisations feed them good data, and the only way to ensure that is through...

EVENT

AI in Capital Markets Summit London

Now in its 3rd year, the AI in Capital Markets Summit returns with a focus on the practicalities of onboarding AI enterprise wide for business value creation. Whilst AI offers huge potential to revolutionise capital markets operations many are struggling to move beyond pilot phase to generate substantial value from AI.

GUIDE

Entity Data Management & the LEI

Just over a year since the Financial Stability Board handed over leadership and direction of the interim Global Legal Entity Identifier System – or GLEIS – to the Regulatory Oversight Committee (ROC) of the LEI the entity identifier is being used for reporting under European Market Infrastructure Regulation. This report discusses recent developments in the...