DTCC Debuts ‘Same Day’ LEIs

Issuer anticipates demand for one-day delivery of Legal Entity Identifiers after Mifid II comes into force.

Tony Freeman, Depository Trust & Clearing Corp.

Tony Freeman, DTCC’s executive director of industry relations, says its normal turnaround time for issuing an LEI is between 48 and 72 hours, but the faster service will issue an LEI by 5pm GMT on the same day a request is submitted, as long as it is filed by 10am. Expedited requests made after that time will be fulfilled the next business day. The seven-hour turnaround is available for a 50 percent premium on the regular cost.

Freeman says that while DTCC does not expect the expedited service

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