FCA sponsors London Stock Exchange as a pre-Local Operating Unit
- London Stock Exchange will assign interim Legal Entity Identifiers
- Interim Entity Identifier codes will satisfy new reporting requirements under EMIR
- UnaVista expected to start allocating new IEI codes from July 2013
London Stock Exchange has over 20 years experience as the UK’s National Numbering Agency for ISINs and CFIs and expects to be ready to allocate IEI codes from July 2013. UnaVista, the Group’s hosted matching and reconciliation platform, will be used to allocate the IEIs as well as providing self-registration, advanced look-ups and challenges.
Counterparties with a reporting requirement under EMIR are required to use interim LEIs and are expected to apply to a pre-LOU for an identifier in preparation for the regulatory changes. An IEI issued through UnaVista will satisfy this requirement.
Mark Husler, Global Head of Product Management and UnaVista, Information Services, London Stock Exchange Group, said:
“We are delighted to become the first UK-based pre-LOU. Our experience as a National Numbering Agency, combined with the technology we have in place with UnaVista, will enable us to assist firms in meeting their new reporting requirements through the creation of unique global identifiers. All firms will have full access to all pre-LEI codes in addition to all free UK ISIN data.”
UnaVista is a matching and reconciliation platform that allocates ISINs and SEDOL codes globally. UnaVista has over 650 clients processing over 1 billion transactions a year on its MiFID Transaction Reporting service and provides a number trade confirmation, matching and reconciliation services designed to help reduce operational and regulatory risk. UnaVista has also applied to ESMA to become a Trade Repository.
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