UnaVista offers LEI Allocation service to help firms meet their accreditation requirements
- LEI Allocation service allows global infrastructure providers to offer LEI service using UnaVista’s technology
- Helps firms tackle operational and regulatory challenges
- LEI Data Management tool enables firms to identify and apply for LEIs for upcoming MiFID II regulation
UnaVista has developed an LEI Allocation service to help reduce the regulatory and operational challenges of becoming an accredited Local Operating Unit (LOU) for Legal Entity Identifiers (LEI).
The Global Legal Entity Identifier Foundation (GLEIF) is currently requesting that pre-LOUs apply for accreditation to become fully approved LOUs. That accreditation process is in place to ensure that LOUs have the correct infrastructure, security and processes in place to uphold the GLEIF’s core principles and maintain the quality of the LEI.
UnaVista LEI Ltd is currently in the process of becoming accredited, but is also helping other pre-LOUs and market infrastructure providers with their LEI allocation through UnaVista’s robust and reliable technology. With MiFID II set to go live in 2018 an increase of LEI requests is expected. All trusts will now be required to obtain an LEI, with estimates of between 100,000 and one million new LEIs required.
UnaVista has already partnered with the Hellenic Exchange Group (HELEX) to provide an assisted LEI registration and maintenance service. Greek entities can apply for their LEI with HELEX who then validate the data and apply through via UnaVista’s LEI portal. This allows HELEX to offer a cost-effective LEI service to all their members, without the need to overhaul their infrastructure.
UnaVista has a similar agreement in place with Maroclear for North and West African LEIs and the Cyprus Stock Exchange helping to reduce the operational and regulatory challenges for both large and small market participants alike, providing the most suitable solution for a market with a large diversity of firms.
For firms who need to acquire LEIs for their business, UnaVista has developed an LEI Data Management Tool. Firms can use the tool to assess how many LEIs they and their clients will need by comparing the data against a complete LEI database. The tool then has the project tools to help firms apply for the missing LEIs on mass through the tool.
Mark Husler, Global Head of Product Development, Information Services, LSEG:
“UnaVista’s LEI Allocation service demonstrates our ongoing commitment to helping market participants through innovative technology. UnaVista is being used as an off-the-shelf solution for both LEI allocation and trade and transaction reporting, bringing leading robust technology solutions to markets that need them, but without costly and onerous internal projects.”
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For further information:
Ed Clark +44 (0)20 7797 1222
Notes to editors:
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is an international markets infrastructure business. Its diversified global business focuses on capital formation, intellectual property and risk and balance sheet management. LSEG operates an open access model, offering choice and partnership to customers across all of its businesses. The Group can trace its history back to 1698.
The Group operates a broad range of international equity, ETF, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS (Europe's leading fixed income market); and Turquoise (a pan-European equities MTF). Through its platforms, LSEG offers market participants, including retail investors, institutions and SMEs unrivalled access to Europe’s capital markets. The Group also plays a vital economic and social role, enabling companies to access funds for growth and development.
Through FTSE Russell, the Group is a global leader in financial indexing, benchmarking and analytic services with approximately $10 trillion benchmarked to its indexes. The Group also provides customers with an extensive range of real time and reference data products, including SEDOL, UnaVista, XTF and RNS.
Post trade and risk management services are a significant part of the Group’s business operations. In addition to majority ownership of LCH, a multi-asset global CCP operator, LSEG owns CC&G, the Italian clearing house; Monte Titoli, a leading European custody and settlement business; and globeSettle, the Group’s CSD based in Luxembourg.
LSEG is a leading developer and operator of high performance technology solutions, including trading, market surveillance and post trade systems for over 40 organisations and exchanges, including the Group’s own markets. Additional services include network connectivity, hosting and quality assurance testing. MillenniumIT, GATElab and Exactpro are among the Group’s technology companies.
Headquartered in the United Kingdom, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 3,500 people.
Further information on London Stock Exchange Group can be found at www.lseg.com