Swift and DTCC Collaborate on Interim Identifier Launch

The Depository Trust and Clearing Corporation (DTCC), in collaboration with Swift, has begun issuing CFTC Interim Compliant Identifiers (CICIs) through a new web portal, after gaining approval from the Commodity Futures Trading Commission (CFTC).
The establishment of Legal Entity Identifiers (LEIs) is being seen as a key element for Group of Twenty (G20) moves over reforming derivatives markets. CICIs are designed to be compatible with the ISO 17442 LEI standard approved by the Financial Stability Board, having been assigned to Swift and the DTCC after a competitive proposal process. The assistance of the Association of National Numbering Agencies (ANNA) with regards the registration and validation of entities is a precursor to the federated approach for the operation of LEIs.
"We are delighted to have been selected by the CFTC with Swift to provide CICIs in accordance with the ISO 17442 standard," says William Hodash, managing director, business development at the DTCC. "A standard way of identifying counterparties will help regulators and market participants better aggregate risk and exposures on a global scale."
While the LEI is expected to encompass a broad range of operators within all asset classes, CICIs will be targeted at a much smaller number of participants involved in over-the-counter (OTC) derivatives trading, estimated at less than 50,000. By contrast, LEI registrations are expected to reach around 1.5 million.
The new identifier is required by the CFTC for registered swap dealers and market participants by 12 October 2012, its effective date for final swap recording and recordkeeping rules.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Exchange M&A, US moratorium on AI regs dashed, Citi’s “fat-finger”-killer, and more
The Waters Cooler: Euronext-Athex, SIX-Aquis, Blue Ocean-Eventus, EDM Association, and more in this week’s news roundup.
LSEG officially sunsets Eikon
The exchange operator withdrew the platform from its product lineup this week.
Cloud Wars: Are EU and APAC firms really pining for homegrown options?
Waters Wrap: In the wake of tariffs and regional instability, there’s chatter about non-US firms lessening their dependency on the major hyperscalers. Anthony is not buying it.
Bloomberg, MTS expand portfolio trading to EGBs
The platform providers will follow Tradeweb with the extension of the popular credit protocol.
Doing a deal? Prioritize info security early
Engaging information security teams early in licensing deals can deliver better results and catch potential issues. Neglecting them can cause delays and disruption, writes Devexperts’ Heetesh Rawal in this op-ed.
Google gifts Linux, capital raised for Canton, one less CTP bid, and more
The Waters Cooler: Banks team up for open-source AI controls, S&P injects GenAI into Capital IQ, and Goldman Sachs employees get their own AI assistant in this week’s news roundup.
Waters Wavelength Ep. 323: MarketAxess’s Chowdhury and Burke (plus some Cusip updates)
This week, Riad Chowdhury, head of Asia-Pacific, and Dan Burke, global head of emerging markets at MarketAxess, join to discuss block trading in fixed income. Plus Reb discusses her recent article about Cusip and updates on the class action lawsuit moving through the courts.
As datacenter cooling issues rise, FPGAs could help
IMD Wrap: As temperatures are spiking, so too is demand for capacity related to AI applications. Max says FPGAs could help to ease the burden being forced on datacenters.