Identifiers key to repository success, say participants
Consistent reporting to multiple trade repositories under new OTC regulations will depend on the successful adoption of legal identifiers
The adoption of a new system of legal identifiers for entities, products and transactions will be key to ensuring a consistent reporting framework across the multiple trade repositories expected to function under new regulation, according to officials at the European Securities and Markets Authority (Esma) and Swift, the messaging provider driving the development of legal entity identifiers (LEIs).
"We will need to find a balance between competition and standardisation. We don't want to be too
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