Identifiers will place significant technology demands on industry, say dealers
Progress to create a new set of industry standard codes to identify institutions, products and transactions is moving forward as regulatory reporting deadlines loom, but it remains one of the biggest market structure challenges of 2012 for foreign exchange banks, platforms and vendors
The first versions of the ‘legal entity identifier' (LEI), a 20-digit code that will be used to identify every financial institution that reports derivatives trades to central repositories under the US Dodd-Frank Act, will be published online early this week as market participants prepare to meet regulatory deadlines set by the Commodity Futures Trading Commission (CFTC).
Provisional legal entity
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