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DTCC Issues More Than 165,000 LEIs

On the first anniversary of trade reporting in Europe, the Depository Trust & Clearing Corporation’s (DTCC) Global Markets Entity Identifier (GMEI) utility, offered in collaboration with Swift, has announced it has issued over 165,000 legal entity identifiers (LEIs) to entities from over 140 jurisdictions.

This represents approximately 50% share of the LEIs issued worldwide, according to DTCC.

The DTCC and Swift have contributed to the growth of the Global Legal Entity Identifier System (GLEIS) and partnered with the Global LEI Foundation (GLEIF), which was created last year to help manage the overall system.

Both firms expect the GMEI utility to continue to grow as regulators increasingly mandate the use of LEIs in new financial rules.

Impending EU regulations, including European Market Infrastructure Regulation (EMIR), Markets in Financial Instruments Directive II (MiFID II) and Central Securities Depositories Regulation (CSDR), all require the use of LEIs in their reporting architecture. The DTCC also expects more US regulatory mandates around the use of LEIs.

Bill Hodash, managing director of business development at DTCC, says, “Achievement of these milestones illustrates the seriousness with which we take our role within the GLEIS. 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.”

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