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: How to organise, integrate and structure data for successful AI

Artificial intelligence (AI) is increasingly being rolled out across financial institutions, being put to work in applications that are transforming everything from back-office data management to front-office trading platforms. The potential for AI to bring further cost-savings and operational gains are limited only by the imaginations of individual organisations. What they all require to achieve...

BLOG

Tracing Data’s Transformation is Key to Compliance and AI Effectiveness: Webinar Preview

Transparency and accuracy are characteristics of data that are equally important for financial institutions’ compliance processes and the rollout of artificial intelligence applications. Without those qualities, regulators will have little trust in the disclosures of firms’ compliance teams and any AI technology will be prone to misleading and potentially damaging outputs. To ensure these two...

EVENT

Buy AND Build: The Future of Capital Markets Technology

Buy AND Build: The Future of Capital Markets Technology London 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

The DORA Implementation Playbook: A Practitioner’s Guide to Demonstrating Resilience Beyond the Deadline

The Digital Operational Resilience Act (DORA) has fundamentally reshaped the European Union’s financial regulatory landscape, with its full application beginning on January 17, 2025. This regulation goes beyond traditional risk management, explicitly acknowledging that digital incidents can threaten the stability of the entire financial system. As the deadline has passed, the focus is now shifting...