Minimize the effort involved in registering and obtaining an EU passport.
Legal Entity Identifier (LEI)
Eliminate the need to perform any manual data mapping and ensure for better processing of entity level Corporate Actions with SIX Financial Information’s LEI data service.
In light of the Lehman Brothers crash, the Legal Entity Identifier (LEI) has been devised to provide financial institutions a greater understanding of corporate entities with the aim of greatly reducing cross platform risk exposure. As a financial institution you are now challenged with integrating and cross-linking all of the data references, while streamlining data flow.
Our LEI Data Service
SIX Financial Information's data maps LEI to institutional data and related instrument data to provide a pass through solution for integrating pre-LEI/LEI into securities and entity master files. In addition, SIX corporate actions data ensures events such as mergers and takeovers are applied, eliminating the need to perform any manual data mapping or maintenance.
Please note: SIX is not an issuer of LEIs.
Save time and effort on non-productive tasks such as manual mapping and updates
Greatly reduce the amount of failed trades caused by incomplete, inaccurate counterparty data
Facilitate better processing of entity level Corporate actions such as applying M&A events to all related instruments
Reduced costs of compliance with easy access to our extensive and reliable tax and compliance data
Background on the LEI
Following the worldwide financial crisis in 2008,regulators focused on implementing the macroeconomic tools needed to monitor systemic risk. At the heart of this process it was recognized that clear and unambiguous identification of institutions was required to deliver transparency and to understand key risk exposures across the industry. As a result the G-20 nations tasked the Financial Stability Board (FSB) to prepare recommendations for a global Legal Entity Identifier (LEI) governance and implementation framework.
The LEI is designed to be a unique and persistent entity identifier that enables risk managers and regulators to consistently identify parties to financial transactions instantly and precisely and on a global basis. It is a common pervasive code that acts as a key linking the many proprietary vendor and internal codes already in existence. Aside from an initial registration fee and an annual maintenance fee paid by the firm requiring a LEI, it will be free of licensing conditions to encourage adoption. The LEI is supported by an ISO standard (ISO 17442) and within scope are legal entities, subsidiaries and fund structures.
Moving forward once industry adoption of the global LEI reaches critical mass, it is expected data reported both externally to supervisors and internally for risk management purposes will be more reliable. The global LEI will enhance the ability of regulators to monitor and analyze threats to financial stability and the ability of risk managers to evaluate their companies’ risks. It promises to facilitate improved risk analysis, supervision, and regulation; reduce cost for industry in collecting, cleaning, and aggregating data, and in reporting data to government regulators; mitigate operational risks of private firms and improve their internal risk processes; and enhance industry’s market discipline.