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

Talking Reference Data with Andrew Delaney: Just When You Thought It Was Safe…

Subscribe to our newsletter

The CFTC yesterday approved approved the DTCC’s application to run a multi-asset class swap data repository (SDR) in the US, with the promise of increased transparency in the OTC derivatives marketplace. The depository – slated for launch on October 12 – doubtless will make use of the CICI interim legal entity identifier, cementing that nomenclature’s place in the roadmap toward a standard global LEI framework during 2013. Details here.

And then…

The Financial Stability Board (FTB) pretty much at the same time released a progress note on its plans for the global LEI system that outlined an “urgent study” into the format of the 20-digit identifier. This would seem to throw a cat among the proverbial pigeons: many in the industry had reached the conclusion that the LEI will be a random number containing no s0-called intelligence. Does the urgent review – to be undertaken by the Private Sector Preparatory Group (PSPG) over the coming week (!) and reported on September 28 – hit that assumption out of the ballpark?

Quite possibly.

The debate over whether to add intelligence to the LEI number has raged all summer. But we thought it had simmered down with the broad assumption that they nays had outrun the yays. Seems we were wrong…. We’ll know in a week. Here’s what the FSB had to say:

“Number allocation scheme for the Global LEI system: The [LEI Implementation Group] has commissioned an urgent study from the Private Sector Preparatory Group (PSPG) on the appropriate numbering scheme for the global LEI system. A number of experts have recently emphasised the importance of the identifier generation scheme in terms of the flexibility, costs, and operational requirements of the LEI system from the stand-point of short-term implementation and integration of local systems, as well as long-term flexibility and resilience of the global system. Interested PSPG experts are asked to prepare recommendations by September 28 to enable the IG to develop a proposal for the final global LEI system numbering scheme.”

Elsewhere within the progress note, the FSB outlines its plans for establishing the global governance structure for the LEI ahead of next March’s planned launch.

The next major step – aside from the report from the IG’s “urgent “review” – will be a “Global Legal Entity Identifier (LEI) System Operational Solution Demonstration Day on 15 October in Basel, Switzerland.”

Book your tickets now.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Best practice approaches to data management for regulatory reporting

Effective regulatory reporting requires firms to manage vast amounts of data across multiple systems, regions, and regulatory jurisdictions. With increasing scrutiny from regulators and the rising complexity of financial instruments, the need for a streamlined and strategic approach to data management has never been greater. Financial institutions must ensure accuracy, consistency, and timeliness in their...

BLOG

A (Free) Practical AI Handbook for Capital Markets Professionals

Artificial Intelligence (AI) has swiftly transitioned from a promising concept into an operational reality across the capital markets. Senior executives, compliance leaders, and technology specialists are already well-acquainted with the potential of AI to streamline processes, enhance decision-making, and open new competitive opportunities. Yet, the current challenge isn’t about grasping AI’s transformative potential – it’s...

EVENT

ESG Data & Tech Briefing London

The ESG Data & Tech Briefing will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...