Canada Latest to Adopt LEI

The number of markets adopting the legal entity identifier (LEI) continues to grow.

hodash-william
Bill Hodash, DTCC managing director of strategy and business development

With an increasing amount of pressure to make the capital markets as transparent as possible, the push for a standard legal entity identifier (LEI) for counterparties is another compliance requirement that has continued to pick up steam. On October 31, Canada became the latest market to adopt LEIs, requiring firms to use LEIs for counterparties when reporting OTC derivatives transactions to registered trade repositories. The physical process of obtaining a LEI is essentially painless. Applyin