All trades within the scope of FinfraG need to be reported to an authorized trade repository. Since January 2018, banks are required to indicate the counterparty of a trade by a Legal Entity Identifier (LEI). The Swiss Stock Exchange has joined forces with The Depository Trust & Clearing Corporation (DTCC) to offer Swiss entities an easy straight forward way to apply for LEIs.
The Global Markets Entity Identifier utility (GMEI utility) from DTCC is the largest Local Operating Unit (LOU) worldwide and represents approximately 50% of the global market share. Launched in 2012, the GMEI Utility is designed to provide a single, universal standard identifier to any organization or firm involved in a financial transaction internationally.
As a customer-owned and trusted market infrastructure, SIX offers Swiss legal entities the ability to register and renew LEIs in order to trade with European counterparties and meet regulatory requirements.