06.21.2018
By John D'Antona

QUICK TAKE: DTCC Says Times to Get LEIs Is NOW

Now is not the time to procrastinate.

Especially when it comes to acquiring one’s Legal Entity Identifier (LEI), according to one DTCC executive. The time to get LEIs is now as the European Securities and Markets Authority (ESMA) has announced that it will not be extending the LEI grace period.

Larry Thompson, DTCC Vice Chairman, said: “ESMA’s announcement that no additional forbearance will be afforded to market participants means they need to make it a priority to apply for their LEIs ahead of the July 2 expiry date. Furthermore, if firms outside Europe which transact in European markets do not put the necessary measures in place to comply with the MiFID II LEI requirement by this time, they simply will not be able to trade with European counterparties.”

Related articles

  1. Markets Choice Award winner automates clearing, netting, and settlement for Treasuries and MBS.

  2. Markets Choice Award winner is a comprehensive 'real' price observation data solution.

  3. Transition Management Consolidates

    Integrated data platform enables buy-side clients to manage exceptions in a single place.

  4. DTCC prescribes a systems-based approach to recovery, intra-firm collaboration, and regulatory coordination.

  5. Utility eyes benefits for lifecycle management in private markets and securities settlement in public markets.