LEIs Gathers Momentum from 2014, says DTCC

The Depositary Trust & Clearing Corporation (DTCC), in cooperation with SWIFT, has issued over 165,000 legal entity identifier s (LEIs) to entities from over 140 jurisdictions.

Through the Global Markets Entity Identifier (GMEI) utility, issues of LEIs are expected to grow further as regulators in Europe and the U.S. increasingly mandate their use in new financial rules.

With this progress, DTCC and SWIFT have played a significant role in the growth of the Global LEI System (GLEIS) and are key partners with the Global LEI Foundation (GLEIF), which was created last year to help manage the overall system.

“The industry, DTCC and SWIFT, other Local Operating Units (LOUs) and the GLEIF are all working together to fully implement the LEI since it is so critical to increasing transparency and improving counterparty and global systemic risk analysis,” says Bill Hodash, managing director of business development, DTCC.

The LEI is a critical tool for helping regulators and market participants aggregate and better understand exposures, enhance market transparency and significantly improve the analysis of global systemic risk.