CFTC Grants One-Year Extension to DTCC-SWIFT LEI Order

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CFTC Grants One-Year Extension to DTCC-SWIFT LEI Order

Postby » Sun Jul 17, 2016 3:53 pm

The US’ Commodity Futures Trading Commission (CFTC) has opted to lengthen an order of a joint DTCC-SWIFT utility, which manages and provides legal entity identifiers (LEIs), which will see the groups’ designation extended another year, according to a CFTC statement.

LEIs are identification codes that help enable and foster consistent and accurate identification of all legal entities that are parties to financial transactions, including non-financial institutions. This methodology and provision is required by the CFTC’s swap data recordkeeping and reporting rules – the extension itself is important as it facilitates more time for the global LEI system to become fully operational.

The ... (read more)

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