Legal Entity Identifier (LEI)
All trades within the scope of FinfraG need to be reported to an authorized trade repository. By January 2018, banks will be required to indicate the counterparty of a trade by a Legal Entity Identifier (LEI). SIX Securities Services 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 Securities Services offers Swiss legal entities the ability to register and renew LEIs in order to trade with European counterparties and meet regulatory requirements.