FSB Reports ‘Substantial Progress’ for OTC Reforms The Financial Stability Board reports that “substantial progress” is being made via standard-setting bodies, national and regional authorities and market participants toward meeting the goals of over-the-counter (OTC) derivatives reforms set by G20 Leaders four years ago. However, the FSB would like to see greater acceptance of centralized… Read More >>
Omgeo Adds LEI Support as Smarsh, Nasdaq and Protegent Advance Social Media Surveillance
Omgeo Adds LEI Support to Alerts Via Avox Post-trade services provider Omgeo now has support for the global Legal Entity Identifier (LEI) initiative via additional entity- and fund-level fields and data as part of its Alerts web-based global database for account and standing settlement instructions (SSI), officials say.The new LEI support comes via Omgeo’s partnership… Read More >>
Forging IT Leadership in the Regulation Decade
A keynote speaker for the19th ISITC Annual Industry Forum and Vendor Show in Boston this week focused on the industry trade group’s raison d’être when he urged those in attendance to take on the “big challenges” such as driving a consensus to make standards reality such as the push for wider usage of ISO 20022-based… Read More >>
2012 in Review: Finally, A Year of Progress
How do you categorize a year as volatile as 2012? For starters, it was finally a Year of Progress as the industry mulled the issues and moved forward. To make my case, I have picked the top FTF News story trends from the year that was. We have also listed the top stories based upon… Read More >>
The CICI Utility Launches
As expected, the DTCC and SWIFT have launched a Web-based utility as part of their recently designated roles as interim service providers for the CFTC Interim Compliant Identifiers (CICIs) for legal entities that participate in over-the-counter (OTC) derivatives trading. The website www.ciciutility.org follows the CFTC’s plan to establish a CICI utility that issues identifiers to… Read More >>
A Preview of the LEI Dramas to Come
The push for standardized legal entity identifiers (LEIs) is advancing as evidenced by the recent launch of a legal entity data portal (www.avoxdata.com) via Avox Ltd., a subsidiary of the DTCC. The portal is yet another milestone in the LEI drama, which has many scenes to go before LEIs become a permanent part of the… Read More >>
The CFTC’s LEI Move
The push for standardized Legal Entity Identifiers (LEIs) got a boost last week when the CFTC tapped the DTCC and SWIFT to be the providers of the CFTC Interim Compliant Identifiers (CICIs) for legal entities that participate in over-the-counter (OTC) derivatives trading. Yet many firms are only now beginning to take steps to move from… Read More >>
The LEI Standard and Global Acceptance
The push for a Legal Entity Identifier (LEI) standard has just taken two giant steps forward. It has the approval of the Financial Stability Board (FSB) and ISO has just published the blueprint in the form of the ISO 17442 standard. While these are remarkable achievements, there is a potential pitfall ahead in getting the… Read More >>
LEI at a Crossroads
In an eleventh hour move, a key panel of the Financial Stability Board (FSB) is pushing for the removal of the registration authority from the proposed standard for legal entity identifiers (LEIs). This leaves the SWIFT financial messaging cooperative, a backer of the LEI effort, without a clear role. Undaunted, SWIFT says it’s a strong… Read More >>
The LEI Update
The initiative to uniquely identify financial counterparties according to the proposed Legal Entity Identifier (LEI) standard (ISO 17442) is hitting its stride as many key milestones are looming and as financial services firms refine plans and budgets for the reference data overhaul mandated by regulators. In the US, regulators have compelled the industry to create… Read More >>
