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DTCC's LEI service receives GLEIF accreditation

First Published 20th March 2017

DTCC'S Legal Entity Identifier service, GMEI Utility, awarded GLEIF accreditation.

Ron Jordan, DTCC

Ron Jordan, DTCC

The Depository Trust & Clearing Corporation has announced that its subsidiary operating the Global Markets Entity Identifier utility (GMEI utility) has received official accreditation from the Global Legal Entity Identifier Foundation (GLEIF).

The GLEIF, whose purpose is to ensure that the LEI remains the industry standard best suited to providing open and reliable data for unique legal entity data identification management, is evaluating the suitability of organizations seeking to operate within the Global LEI System (GLEIS) - as issuers of LEIs and custodians of LEI reference data. As such, DTCC's GMEI utility applied to become GLEIF-accredited and was subject to the same evaluation criteria as any new organization seeking accreditation. The GLEIF assumed responsibility for accrediting organizations from the LEI ROC back in 2015.

"The GMEI utility continues to play a significant role as new financial regulations globally increasingly mandate the use of LEIs," said Ron Jordan, Managing Director of Data Services at DTCC. "LEIs are a critical tool to uniquely and unambiguously identify legal entities to help regulators and market participants aggregate and better understand exposures, enhance market transparency and significantly improve the analysis of systemic risk. We're committed to data quality and, being one of the first LEI issuers to receive accreditation reflects that we have sufficient capabilities in place to ensure high data quality in the GLEIS."