LEI issuance well below targets as Emir reporting begins

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With derivatives trade reporting due to start today in Europe, only one of the nine European services issuing preliminary legal entity identifiers (LEIs) - a unique code required by all market participants - has met its anticipated targets. The other services have handled anything from 12% to 50% of their forecast demand, implying tens of thousands of firms are currently unable to report new trades or backload old ones.

For six issuers that shared their estimated targets with Risk, the total num

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