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: Unlocking Transparency in Private Markets: Data-Driven Strategies in Asset Management

As asset managers continue to increase their allocations in private assets, the demand for greater transparency, risk oversight, and operational efficiency is growing rapidly. Managing private markets data presents its own set of unique challenges due to a lack of transparency, disparate sources and lack of standardization. Without reliable access, your firm may face inefficiencies,...

BLOG

Sanctions Data Has Outgrown the Systems Built to Manage It

By Marion Leslie, Head of Financial Information, Executive Board Member, SIX. For as long as anyone in the industry can remember, sanctions in financial instruments representing holdings in sanctioned legal entities have been treated as a very specialist concern. They sat with compliance teams and were largely invisible to day-to-day market activity. The issue is...

EVENT

TradingTech Summit New York

Our TradingTech Summit in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

GUIDE

Regulatory Data Handbook 2025 – Thirteenth Edition

Welcome to the thirteenth edition of A-Team Group’s Regulatory Data Handbook, a unique and practical guide to capital markets regulation, regulatory change, and the data and data management requirements of compliance across Europe, the UK, US and Asia-Pacific. This year’s edition lands at a moment of accelerating regulatory divergence and intensifying data focused supervision. Inside,...