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The operational challenges of adopting the LEI
Journal of Securities Operations & Custody,
7
(4),
329-336
(2015)
Abstract
The legal entity identifier (LEI) emerged after the financial crisis in a combined effort between the industry and public authorities. This new data standard allows regulators and market participants to better understand counterparty exposures and support risk management decisions. Until now, regulatory compliance has been a key driver for adoption. This paper highlights the operational challenges to a faster and broader adoption of the LEI across the financial industry.
Keywords: legal entity identifier (LEI); risk management; reference data; regulation
The full article is available to subscribers to the journal.
Author's Biography
Paul Janssens is the LEI Programme Director at SWIFT. He leads the LEI initiative from the early stages of developing a new LEI standard through to implementation. Paul plays an active role in the Global Markets Entity Identifier (GMEI) utility, which is the LEI solution offered by DTCC and SWIFT in partnership. He has more than ten years’ experience in reference data management and ISO standards across both operations and marketing. Since joining SWIFT in 1988, Paul has held different managerial positions, including Group Treasurer, EURO Programme Manager and Y2K Programme Manager. Prior to joining SWIFT, he worked at Société Générale as a cash management specialist.
