OTC industry rushes to develop standard legal entity identifiers

Identifying the identifiers

Regulators have been clear about how they want over-the-counter markets to function. As much as possible of the OTC market will be cleared via central counterparties (CCPs), while key transaction data on both cleared and uncleared trades will be reported to repositories, then sifted through by individual supervisors. At the same time, new regulatory organisations will prowl financial markets looking for any build-up in systemic risk and identify those institutions that form key links in the