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DTCC'S legal entity identifier service, GMEI utility, readies industry for MIFID II implementation

First Published 27th March 2017

DTCC receives official accreditation from the GLEIF. SIX collaborates with DTCC's subsidiary operating the GMEI utility to issue LEIs in Switzerland.

Ron Jordan, DTCC

Ron Jordan, DTCC

The Depository Trust & Clearing Corporation (DTCC), the post-trade market infrastructure for the financial services industry, has announced that its subsidiary operating the Global Markets Entity Identifier utility (GMEI utility) continues to operate as the largest legal entity identifier (LEI) issuer, by share of the total LEIs issued worldwide, in the run-up to MiFID II implementation.

"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," said Ron Jordan, Managing Director of Data Services at DTCC. "With the dominant market share and having received GLEIF accreditation, the GMEI utility continues to play a critical role as new financial regulations, globally, increasingly mandate the use of LEIs - and we look forward to working with SIX as firms prepare for MiFID II and beyond."