CUSIP Global Services (CGS) has joined the initiative led by the Association of National Numbering Agencies (ANNA) and Global Legal Entity Identifier Foundation (GLEIF) to map ISINs to LEIs. ANNA and GLEIF set up the mapping initiative back in April 2019 with a limited number of National Numbering Agencies within ANNA joining the project, which is designed to improve transparency and counterparty risk exposure in global financial markets.
CGS, a National Numbering Agency and co-operator of the ANNA Service Bureau, is providing ISIN to LEI mapping for newly issued US and Canadian securities, and legacy securities in its ISIN database for which there is an accompanying LEI. As the largest National Numbering Agency based on size of markets served, CGS is responsible for issuing and maintaining ISINs for over 35 markets in North, South, Central America and the Caribbean. Its ISIN to LEI mapping capability is available immediately, at no cost, and can be accessed on the GLEIF website.
Scott Preiss, managing director, global head, CUSIP Global Services, part of S&P Global Market Intelligence, explains: “The underlying mission of the LEI, from its conception in the wake of the financial crisis, was to create an easy-to-use and widely accessible standard for identifying underlying entity exposures. By linking the ISIN directly to the entity-level data in the LEI, we are taking an important step towards enabling risk management systems to more accurately capture entity exposures within a securities portfolio.”
From a user perspective, GLEIF board member Robin Doyle says: “Having a GLEIF certified connection between identification standards that enables firms to aggregate data about securities exposure in relation to individual issuers and related entities delivers a peace of mind that was simply not available a decade ago.”