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

Thomson Reuters Resolves the MiFID II No LEI, No Trade Problem

Subscribe to our newsletter

Thomson Reuters has responded to the ‘No LEI, No Trade’ problem posed by Markets in Financial Instruments Directive II (MiFID II) with an LEI Profiling Service that allows users to identify LEI gaps that need to be closed before the January 3, 2018 deadline and check the data quality within their reportable client universes.

The profiling service is based on the Thomson Reuters Avox database, which maintains 100% Legal Entity Identifier (LEI) coverage based on daily updates from the Global LEI Foundation (GLEIF). Users of the service send their entities of interest to Thomson Reuters, which matches them against the LEI records stored in the Thompson Reuters Avox Database, and allows users to identify entities that have yet to request LEIs and, where LEIs exist, determine their status.

Benefits of the service include reduced cost and time as firms can focus on proactive client outreach for known entity record gaps rather than on reconciliation of internal content. The service will also help to track the thousands of LEIs that are expected to be issued in the run up to the January 2018 MiFID II compliance deadline.

Mark Davies, global head of RMS Data Services at Thomson Reuters, says the profiling service acts as an LEI health check. He explains: “When firms onboard clients they need to check the client has an LEI, but they don’t always look for all use cases of the LEI and whether it needs to be refreshed. In market testing of the LEI Profiling Service we’ve found we can help a lot of firms identify and close LEI gaps.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Managing Non-Financial Misconduct Under SMCR

Non-financial misconduct – encompassing behaviours such as bullying, sexual harassment, and discrimination is a key focus of the Senior Managers and Certification Regime (SMCR). The Financial Conduct Authority (FCA) has underscored that such misconduct is not only unethical but also poses significant risks to a firm’s culture and operational integrity. Recognizing the profound impact on...

BLOG

The Future of Wealth Management: The Rise of Alternatives and Digital Transformation

By Tom Carey, Corporate Vice President, President of Global Technology and Operations at Broadridge. Wealth management stands at a pivotal crossroads, poised for revolutionary change that will fundamentally reshape the delivery, consumption and value of financial services. Global assets under management are projected to reach $145.4 trillion by 2026, with alternative investments growing at twice...

EVENT

TradingTech Summit London

Now in its 15th year the TradingTech Summit London brings together the European trading technology capital markets industry and 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...