Markit is adopting the Industry Classification Benchmark (ICB) from Dow Jones Indexes and FTSE Group. ICB will be implemented across Markit’s entire range of entities across all asset classes. Markit’s involvement will also help to enhance ICB’s coverage of the current 40,000 equities by expanding into around 5,000 credit default swap reference entities and bond issuing entities. This information is covered in Markit’s Reference Entity Database (RED), which will now follow ICB guidelines providing a four-tier classification structure.
A-Team Insight Blogs
Markit Adopts and Enhances ICB Codes for Credit Markets
When the Brexit transition period came to an end on 31 December 2020, a new sanctions regime was introduced in the UK under legislation set out in the Sanctions and Anti-Money Laundering Act 2018 (aka the Sanctions Act). The regime is fundamentally different to that of the EU, requiring financial institutions to rethink their response...
Global LEI Foundation Aims to Accelerate LEI Adoption by Slashing Prices of the Identifiers to Single Digit Dollars
The Global LEI Foundation (GLEIF) is planning to tear down the cost barrier obstructing widespread adoption of the LEI with the implementation of a validation agent role for banks and financial institutions. Expectations are that frequently contended high prices charged to register an entity for an LEI – by way of example Bloomberg charges $65...
Now in its 10th year, the Data Management Summit (DMS) in NYC explores the shift to the new world where data is redefining the operating model and firms are seeking to unlock value via data transformation projects for enterprise gain and competitive edge.
The global regulatory community has become increasingly aware of the data management challenge within financial institutions, as it struggles with its own challenge of better tracking systemic risk across financial markets. The US regulator in particular is seemingly keen to kick off a standardisation process and also wants the regulatory community to begin collecting additional...