Zurich
04 April 2017
Reporter: Stephanie Palmer

DTCC and SIX team up for LEIs


SIX Securities Services has partnered with The Depository Trust & Clearing Corporation (DTCC) to provide legal entity identifiers (LEIs) for Swiss entities.

The LEI system is intended to provide more insight into legal entities, reducing cross-platform risk exposure, improving transparency, and helping regulators and market participants to better understand exposures and global systemic risk.

Under the second Markets in Financial Instruments Directive, due to come into effect in January 2018, all legal entities involved in a trade will be required to include their LEIs in European trade reporting.

The partnership will pair SIX Securities Services, the Swiss central securities depository, with DTCC’s Global Markets Entity Identifier utility to create the required LEI numbers.

Ron Jordan, managing director of data services at DTCC, said: “The true value of the global LEI system will be realised when regulatory reporting covering all asset classes in every jurisdiction is required to use LEIs to identify trading parties. To drive further improvements in this crucial area, we look forward to building a strategic partnership with SIX Securities Services.”

Valerio Roncone, head of markets and clients and a member of the management committee at SIX Securities Services, added: “In keeping with our role as a customer-owned and trusted market infrastructure we are delighted to offer our clients in Switzerland access to LEIs which can only enhance their ability to comply with future regulation.”

More Industry news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Northern Trust Universe reports pension plan investment gains
08 August 2017 | Chicago | Reporter: Jenna Lomax
This marked the seventh consecutive quarter of positive investment performance
NEX Group sees European repo boost
04 August 2017 | London | Reporter: Jenna Lomax
European repo grew from €169.4 billion in July 2016 to €228 billion at the end of July 2017
Asset allocations in private equity and real estate increased in early 2017, according to Matt Davey, head of business solutions at Societe Generale Securities Services
European cities eye European Banking Authority
02 August 2017 | Brussels | Reporter: Mark Dugdale
The European Council has received eight applications from cities vying to host the European Banking Authority once the UK leaves the EU
FundBPO to continue using StatPro Revolution
31 July 2017 | Sydney | Reporter: Jenna Lomax
Australian fund administrator FundBPO has signed a three-year contract extension with StatPro Group
Fund administrator LeverPoint acquires Lamplighter
27 July 2017 | New York | Reporter: Jenna Lomax
Lamplighter Financial will boost LeverPoint’s back-office administration and reporting services, specifically SBIC fund reporting, further solidifying its place in the market
Citi ceases to restructure
27 July 2017 | New York | Reporter: Stephanie Palmer
Citi has announced the end of the restructuring that came as a response to the financial crisis, now the franchise has been “streamlined”, according to the bank’s CEO Michael Corbat
More Industry news