GFMA Names DTCC, Avox and Swift For LEI
The Global Financial Markets Association (GFMA), a securities industry group comprised of the US-based Securities Industry and Financial Markets Association (Sifma), Europe-based AFME and Asia-based ASIFMA, has recommended to regulators registration authorities and facilities managers for the legal entity identification (LEI) standard, officials announced.
GFMA has recommended the Depository Trust & Clearing Corporation (DTCC), Swift and DTCC's Avox unit to run a core LEI utility for data collection, maintenance, LEI assignment and quality assurance. Swift would serve as registration authority and DTCC would collect requests for new LEIs, validate the information using Avox, maintain and store reference data from each LEI and maintain public distribution of the LEI database.
In addition, GFMA recommended the new ISO 17442 standard as the LEI standard, which requires identifiers to be persistent, neutral, singular, unique, extensible, structurally fixed, reliable and interoperable.
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