The DTCC has confirmed to FTF News that it is shutting down its Global Markets Entity Identifier (GMEI) utility and leaving the Legal Entity Identifier (LEI) services business by Aug. 22, and that the Global Legal Entity Identifier Foundation (GLEIF) will assign current LEIs to new, accredited local operating units (LOUs) as part of a… Read More >>
Equiti to Use FlexTrade’s FX Platform MaxxTrader
MaxxTrader to Bolster Equiti’s Prime Services Equiti, an online trading technology provider, will be using the MaxxTrader foreign exchange platform from FlexTrade Systems as the basis for its prime of prime services offering, officials say. MaxxTrader will help Equiti provide its prime of prime customers with “global FX liquidity aggregation, trade execution management, and institutional… Read More >>
GLEIF & ANNA Launch ISIN-to-LEI Mapping Effort
ANNA & GLEIF Join Forces for Regulatory Reporting An initiative is underway that will link International Securities Identification Numbers (ISINs) to Legal Entity Identifiers (LEIs) for global financial services transactions. The Association of National Numbering Agencies (ANNA) and the Global Legal Entity Identifier Foundation (GLEIF) have announced that April 4, 2019 marks the start of… Read More >>
ESMA Sets Final Deadline for LEI Applications
The European Securities and Markets Authority (ESMA) will not be extending its deadline for the Legal Identity Identifier (LEI) application process, and financial services firms will have to apply for their LEIs by July 2, officials say. “The temporary period allowing for a smooth introduction of the use of Legal Identity Identifiers (LEIs), originally brought-in… Read More >>
UBS Leads Project for MiFID II LEI Compliance
UBS is collaborating with Barclays, Credit Suisse, KBC Asset Management, SIX and Thomson Reuters to meet MiFID II legal entity identifier (LEI) requirements and improve the quality of counterparty reference data using Ethereum smart contracts. The project, which was kick started by UBS in its London-based innovation lab Level39, is currently in a pilot phase,… Read More >>
LEIs Get a MiFID II Reprieve & Other Happy News!
In comparison to the gut-wrenching twists and turns of 2016, this year provided us with moments of healing, reflection and hope even though many events rocked the landscape for the securities industry. But, at certain points in 2017, rationality prevailed such as when on Dec. 20, the European Securities and Markets Authority (ESMA) issued a… Read More >>
New Handbook Targets ‘Exponential’ Adoption of LEIs
(The rapid emergence of the Legal Entity Identifier (LEI) after the global financial crisis was heralded as an important step forward for clarity in securities operations. In particular, thorny derivatives and their underlying instruments were supposed to be the initial beneficiaries of burgeoning standard. Its wide acceptance via standards bodies has been followed by efforts… Read More >>
Citi Settles Swap Data Reporting Violations Case
Citibank, N.A. (CBNA) and Citigroup Global Markets Ltd. (CGML) have settled with the CFTC on charges that they failed to properly report Legal Entity Identifier (LEI) information about swap transactions properly to a swap data repository (SDR). CBNA acts as a swap dealer and has been registered with the CFTC since December 31, 2012 while… Read More >>
BNP Paribas Joins trueEX SEF
French banking giant BNP Paribas has joined the trueEX swap execution facility (SEF) offering its derivatives clients the ability to leverage direct clearing, broad support of global currencies, and low-cost execution of interest rate swaps via the trueFIX application programming interface (API) platform, officials say. In particular, the trueFIX API “provides asset managers and institutional… Read More >>
Monitor for Deutsche Bank to Help with Swap Data Compliance
The CFTC and Deutsche Bank are in agreement that a monitor is needed to help the German giant maintain and improve its compliance with its swaps data reporting responsibilities in the wake of charges by the regulator. The CFTC and Deutsche Bank officials jointly filed a motion last week with the U.S. District Court for… Read More >>
