Omgeo is supporting the global Legal Entity Identifier (LEI) initiative by adding additional entity- and fund-level fields and data into Omgeo ALERT, the web-based global database for account and standing settlement instructions (SSI).
Omgeo has a partnership with Avox, a subsidiary of the Depository Trust & Clearing Corporation (DTCC) that provides the automated feed that populates legal entity data in ALERT.
With this partnership, entity-level CFTC Interim Compliant Identifiers (CICIs) — which conform to the LEI standard and will transition to LEIs once the global LEI system is established — are automatically populated within confirmed investment manager and broker/dealer ALERT accounts.
Clients can view entity-level CICI information in ALERT, as well as their counterparties’ legal entity data via subscription. To date, over 900 entity CICIs have been automatically populated after Omgeo worked with individual clients to confirm their correct legal entity details and acronyms.
ALERT also supports the CFTC-issued fund-level CICIs. Clients can manually add their fund-level CICI as well as their “large trader” ID to recently added open fields.