CFTC Grants One-Year Extension to DTCC-SWIFT LEI Order
Posted: 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)