LEI debate focuses on governance issues

The LEI vision

Regulators have a vision of the future in which vast reservoirs of swap market data lie at their fingertips – information that can be filtered to help identify dangerous build-ups of risk. But getting to that point requires each market participant to be given its own unique tag – of which there could eventually be more than a million, according to one estimate – and attempts to create a system of legal entity identifiers (LEIs) have foundered in the past.

Those involved in the current effort say