Submitted:
05 February 2019
Posted:
07 February 2019
You are already at the latest version
Abstract
We examine the global legal entity identifier (LEI) system for the identification of participants in financial markets. Semi-structured interviews with data professionals reveal the many ways in which the LEI can improve both business process efficiency and counterparty and credit risk management. Larger social benefits, including monitoring of systemic financial risk, are achievable if it becomes the accepted universal standard for legal entity identification. Our interviews also review the substantial co-ordination and investment barriers to LEI adoption. To address these, a clear regulatory-led road map is needed for its future development with widespread application in regulatory reporting.
Keywords:
Big data
; Data Standards
; Entity Identifiers
; Macroprudential Policy
; Regulation
; Risk Management
; Dodd-Frank Act
; Operational Efficiency
; Systemic Risk
Copyright: This open access article is published under a Creative Commons CC BY 4.0 license, which permit the free download, distribution, and reuse, provided that the author and preprint are cited in any reuse.
