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CICI Utility Cuts 18,000 pre-Legal Entity Identifiers from its Database
The CICI utility that issues CFTC Interim Compliant Identifiers (CICIs) for use in the interim global legal entity identifier (LEI) system will today remove 18,000 records from its database. These records are part of the tranche of 22,000 records that DTCC, which works with Swift as a pre-Local Operating Unit (pre-LOU) in the interim global…
LSE Details Go-Live of Pre-LEI as Regulatory Oversight Committee Reviews Global LEI System
The London Stock Exchange (LSE) is planning to go live with the issue of pre-legal entity identifiers (pre-LEIs) called Interim Entity Identifiers (IEIs) on July 31, following its confirmation June 6 as a pre-Local Operating Unit (pre-LOU) under the sponsorship of the UK Financial Conduct Authority. The exchange detailed its plans this week during a…
NYSE Euronext Subsidiary Takes Over Administration of Libor
NYSE Euronext subsidiary NYSE Euronext Rate Administration has been selected ahead of the London Stock Exchange as the new administrator of Libor. The transfer of administration of the benchmark from BBA Libor, a subsidiary of the British Bankers’ Association (BBA), follows an outbreak of attempts to manipulate Libor for financial gain last year and is…
Talking Reference Data with Sarah Underwood: Data Quality and the LEI
Progress in the development of a global legal entity identifier (LEI) system, including the issue of 83,000 pre-LEIs by two active pre-Local Operating Units (LOUs), is acting as a catalyst for change with many financial institutions investing heavily to get their entity data in order. The process should prove beneficial in terms of improved data…
Swift Enhances SwiftRef Reference Data Utility and Plans Managed Services
Swift is building on last year’s introduction of SwiftRef, its payments reference data utility, with plans to extend web and cloud data services and develop managed services around the data it collects, cleanses, consolidates and publishes. SwiftRef went live in January 2012 and is delivering 194 data files every day to about 1,000 subscribers worldwide….
S&P Capital IQ Builds Out Cross-Referencing Capabilities to Cover Entity Identifiers
S&P Capital IQ is addressing the need to cross reference emerging legal entity identifiers (LEIs) in a broad cross-referencing service covering over two million public and private entities that use standard and proprietary identifiers. The service is called the Business Entity Cross Reference Service and is designed to help users identify systemic and counterparty risk,…
GoldenSource Sets out LEI Store and Suggests an Entity Data Utility to Commoditise Compliance
GoldenSource is addressing the arrival of legal entity identifiers (LEIs) with its existing enterprise data management (EDM) software and the suggestion of a data utility that could commoditise compliance with regulations based on the LEI. The company has made its software LEI ready by allowing users to add LEI codes as additional or primary entity…
DTCC Plans Vendor Workgroup to Tackle Data Accuracy of the CICI and LEI
DTCC has responded to criticisms covering the accuracy and quality of CFTC Interim Compliant Identifiers (CICIs) it issues on behalf of the Commodity Futures Trading Commission (CFTC) saying data issues highlighted in a blog by data consolidator Alacra are the result of how business rules are being applied to entity registrations. Despite its defence, DTCC…
A-Team Group Webinar Reveals Significant Issues in Development of the Global LEI System
The global legal entity identifier initiative is well underway with a Regulatory Oversight Committee providing governance and pre-Local Operating Units assigning legal entity identifiers, but the ultimate success of the system depends on the as yet unformed Central Operating Unit, the quality of entity data and its ongoing maintenance. These issues and more related to…
Regulatory Oversight Committee Updates LEI Development Progress
The Regulatory Oversight Committee (ROC) of the global legal entity identifier (LEI) initiative has made its second report on development of the LEI system, detailing progress in each of the three tiers that make up the system and noting ongoing plans for pre-Local Operating Units (LOUs) and pre-LEIs. The report does not address the burning…