Key insights from the Sanctioned Securities Data File:
- Majority of sanctions‑linked instruments remain active, underscoring the ongoing operational burden for trading, investment and post‑trade teams.
- Rights and entitlements, debt instruments and structured products account for 80% of sanctions‑linked issuance, demonstrating how sanctions exposure concentrates in capital formation and corporate restructuring mechanisms.
- Russia represents 60% of global sanctions‑related issuance, with regulatory regimes from the EU, US, New Zealand and Ukraine also materially shaping the landscape.
LSEG Risk Intelligence has unveiled its new Sanctioned Securities Data File a granular, instrument-level dataset engineered to help financial institutions identify and manage securities with direct or indirect links to sanctioned entities.
Developed in partnership with BIGTXN, a recognised leader in advanced data analytics, the SSDF links global sanctions designations and ownership and control relationships directly to financial securities, providing a structured view of how sanctions translate into real exposure at the instrument level.
Early analysis from the dataset shows that approximately one-third of all sanctions-linked instruments are captured through ownership and control pathways, rather than explicit legal designations. For example, a company may not be sanctioned itself, but if a sanctioned parent owns or controls it, the securities it issues still fall within scope.
Further analysis indicates that sanctions exposure is not confined to historic or inactive positions. Around six in ten sanctions-linked instruments identified through the SSDF remain active, underscoring that sanctions risk represents an ongoing operational challenge for trading, investment and post-trade teams.
At the instrument level, sanctions impact is concentrated in the mechanisms of capital formation and corporate restructuring. Rights and entitlements, debt instruments and structured products collectively account for approximately 80% of sanctions-linked issuance, demonstrating that exposure is embedded within market infrastructure rather than isolated to traditional equity listings.
From a jurisdictional perspective, Russia-imposed measures continue to dominate the sanctions-instrument landscape, accounting for approximately 60% of affected issuance. Sanctions regimes administered by the European Union, United States, New Zealand and Ukraine also contribute materially to the volume of impacted instruments, highlighting the growing importance of managing sanctions exposure across multiple jurisdictions simultaneously.
A structured approach to mapping sanctions to real financial instruments
As global sanctions regimes expand, diverge and update at increasing frequency, firms face mounting complexity in determining whether the securities they trade, hold or service fall within regulatory scope. The Sanctioned Securities Data File systematically links sanctions designations from LSEG’s World-Check platform to real, tradable instruments enabling compliance teams to:
- Detect exposure beyond simple name‑based lists
- Screen across multi‑asset‑class portfolios
- Embed structured sanctions intelligence into front‑to‑back workflows
- React faster to evolving geopolitical and regulatory developments
Chris Moyser, Head of Strategy at LSEG Risk Intelligence, comments:
“Sanctions regimes today extend far beyond simple lists of designated names. Financial institutions need a systematic way to understand how those designations translate into real exposure across securities, ownership structures and corporate actions. The Sanctioned Securities Data File is designed to bring that clarity - helping firms identify risk that is often difficult to detect using traditional screening approaches.”
A solution designed for integration and scale
Delivered via a centralised, structured data feed, the dataset supports high-frequency updates and integrates directly into existing compliance, risk and trading infrastructures. It enables institutions to maintain continuous alignment with evolving sanctions frameworks and to strengthen controls across screening, surveillance, and transaction monitoring programme.
Frequently Asked Questions
What is the Sanctioned Securities Data File (SSDF)?
The Sanctioned Securities Data File (SSDF) is an instrument-level dataset from LSEG Risk Intelligence that links global sanctions designations and ownership and control relationships directly to financial securities. It is designed to help financial institutions identify and manage sanctions exposure across global markets.
Why does ownership and control matter for sanctions exposure?
Sanctions regimes increasingly apply through ownership structures and control relationships, not just through direct designation of issuers. This means a security may be linked to sanctions even if the issuing company is not explicitly sanctioned, provided it is owned or controlled by a sanctioned entity.
What does “ownership and control relationships” mean in practice?
Ownership and control relationships refer to situations where a sanctioned entity owns, controls or exerts influence over another company. In these cases, the securities issued by the non-sanctioned company may still fall within sanctions scope due to that relationship.
What proportion of sanctions-linked securities are connected through ownership and control?
Early analysis from the Sanctioned Securities Data File shows that approximately one-third of sanctions-linked securities are connected through ownership and control pathways, rather than direct legal designation alone.
Are sanctions-linked securities still actively traded?
Yes. Analysis indicates that around 60% of sanctions-linked instruments identified through the SSDF remain active, highlighting that sanctions exposure is an ongoing operational consideration rather than a purely historical issue.
Which types of financial instruments are most affected?
Sanctions-linked exposure is concentrated in rights and entitlements, debt instruments and structured products, which together account for approximately 80% of sanctions-linked issuance identified in the dataset.
Which jurisdictions contribute most to sanctions-linked securities exposure?
Russia-imposed measures account for the largest share of sanctions-linked securities identified. Sanctions regimes administered by the European Union, United States, New Zealand and Ukraine also contribute materially to the affected instrument universe.
How does the SSDF differ from traditional sanctions screening?
Traditional sanctions screening typically focuses on matching names against sanctions lists. The SSDF goes further by systematically linking sanctions designations and ownership and control relationships to financial instruments, enabling firms to identify indirect exposure that may not be visible through name-based screening alone.
Who is the Sanctioned Securities Data File designed for?
The SSDF is designed for financial institutions involved in trading, investment management, custody, clearing, settlement and risk management that need to identify and manage sanctions exposure across securities and portfolios.
How is the Sanctioned Securities Data File delivered?
The dataset is delivered via a centralised, structured data feed that can be integrated into existing compliance, risk and trading workflows. It supports screening across a broad range of asset classes and is updated in line with evolving global sanctions designations.
What does this analysis show about the future of sanctions risk?
The findings highlight that sanctions risk is increasingly embedded in the structure of financial markets through ownership, control and instrument design. This underscores the need for more granular, instrument-level approaches to sanctions screening and exposure management.
Contacts
LSEG Press Office
Nsikan Edung
+44 (0)20 7797 1222
newsroom@lseg.com
www.lseg.com
About Risk Intelligence
LSEG Risk Intelligence provides a suite of solutions to help organisations efficiently navigate risks, avoid reputational damage, reduce fraud and ensure legal and regulatory compliance around the globe. From screening solutions through World-Check, to detailed background checks on any entity or individual through enhanced due diligence, and innovative identity verification and account verification services – you can trust us to help you successfully manage your risk, so you can operate more efficiently, more effectively and more confidently. Learn more
About LSEG
LSEG is a leading global financial markets infrastructure and data provider, playing a vital social and economic role in the world’s financial system.
With our open approach, trusted expertise and global scale, we enable the sustainable growth and stability of our customers and their communities. We are dedicated partners with extensive experience, deep knowledge and a worldwide presence in data and analytics; indices; capital formation; and trade execution, clearing and risk management across multiple asset classes.
LSEG is headquartered in the United Kingdom, with significant operations in 65 countries across EMEA, North America, Latin America and Asia Pacific. We employ over 26,000 people globally, more than half located in Asia Pacific.
LSEG’s ticker symbol is LSEG.
