Putting the LEI into Practice

Hundreds of thousands of pre-Legal Entity Identifiers (LEIs) have been issued by pre-Local Operating Units (LOUs) in the Global LEI System (GLEIS), and the standard entity identifier has been mandated for use by regulators in both the US and Europe. As more pre-LEIs are issued ahead of the establishment of the global systems’ Central Operating Unit (COU), and more regulators mandate their use, data management practitioners must integrate the identifiers and make them accessible for transaction reporting. They must also consider longer term uses of the LEI for both regulatory and data management purposes.

This report discusses the pre-LEI and how it is evolving within the GLEIS. It also provides advice for practitioners who are working with the pre-LEI and tackling the data management problems it poses. Darren Marsh, Senior Product Manager, SIX Financial Information; Scott Preiss, Vice President, Chief Operating Officer – CGS, CUSIP Global Services; and Marty Williams, Vice President, Reference Data Development, Interactive Data, offer insight into the subject.