RiskTech Forum

SmartStream: Legal Entity Identifiers (Leis) – There’s More To Les Than Meets The I

Posted: 12 September 2013  |  Source: SmartStream

In the wake of the Credit Crisis, firms are under pressure to reduce systemic risk, in part through the improvement of their view of counterparty risk. Regulatory impetus has led to the development of a standard global identifier for legal entities – the LEI – aimed at addressing the lack of market information about counterparties and issuers.

At the same time, firms are seeking to reduce their operating costs in response to the ongoing indifferent economic climate. With regulatory imperatives requiring them to do more with less, firms are looking for alternative models to the common practice of building enterprise platforms for data management. The entity data space presents a unique opportunity for the industry to eliminate duplication of effort and reap operational benefits by adopting a collaborative utility approach.
This paper examines the challenges presented by entity data management in the light of regulatory change and the emerging LEI. It explores potential benefits from a more proactive approach to entity data management. And it argues that a utility approach may offer a new and better way of realizing the promise of robust entity data.

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