KDPW, the Polish central securities depository, has been granted accreditation to issue legal entity identifier (LEI) codes by the Global Legal Entity Identifier Foundation (GLEIF).
Although it has been issuing LEI codes since 2013, KDPW was issued its certificate of accreditation from the GLEIF, the body responsible for ensuring the operational integrity of the global LEI system, on 21 December 2016.
The accreditation marks a commitment to data quality and accuracy, and identifies it as an authoritative source that meets the requirements laid out in the ‘master agreement’ between GLEIF and LEI issuing organisations.
Obtaining and using an LEI code is mandatory for all entities engaged in commercial activity involving derivatives transactions that must be reported to transactions depositories.
The obligation will soon be extended to a wider group of entities, including those transacting on the spot market.
President of KDPW Iwona Sroka said: “For KDPW, obtaining the accreditation of GLEIF means above all being able to continue assigning the codes, which ability forms part of our integrated portfolio of services supporting the functioning and development of the Polish financial market, as provided in our corporate strategy.”
She added: “At the same time, we observe a growing demand for the LEI codes assigning service. An important element that drives this demand is EU regulations, which obligate entities operating in the financial market to obtain this code.”
Stephan Wolf, CEO of GLEIF, said: “Becoming a member of the Global LEI System via GLEIF accreditation is a globally recognised designation of commitment to data quality and customer service. GLEIF looks forward to continuing the excellent cooperation with KDPW in its role as an accredited LEI issuer.”
KDPW currently manages more than 7,000 identification codes for entities in Poland and 21 other countries.
