How FIGI Helps Track Swaps Lifecycles

In this month's contributed "Industry Warehouse" column, Bloomberg's Richard Robinson highlights the identifier's value

richard-robinson-bloomberg
Richard Robinson, head of industry initiatives and strategy for Open Symbology, Bloomberg

The financial industry trades billions of dollars in notional amounts of swaps contracts daily, so it stands to reason that there should be an established methodology for identifying the contracts trading hands every day, especially as trading migrates to electronic venues or swap execution facilities (SEFs).

Unfortunately, this is not the case, as this seemingly simple and mundane problem rapidly becomes very complex. Identifiers exist to enable and facilitate processes and automation while pre

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