A global standardized Legal Entity Identifier (LEI) will help enable organizations to more effectively measure and manage risk, while providing substantial operational efficiencies and customer service improvements to the industry.
A unique ID associated with a single legal entity, LEIs allow for consistent identification of parties to financial transactions. The establishment of an LEI system is a foundational and critically important element towards the improved measurement and monitoring of systemic risk. A global, standardized LEI will enable organizations to more effectively measure and manage counterparty exposure, while providing substantial operational efficiencies and customer service improvements to the industry. Through a coordinated initiative between GFMA and other trade associations, the industry has been working to develop a global, consensus-based LEI solution.
Through a coordinated initiative between GFMA and other trade associations, the industry has been working to develop a global, consensus-based solution for the accurate and unambiguous identification of legal entities engaged in financial transactions. Establishment of an LEI system is a foundational and critically important element towards the improved measurement and monitoring of systemic risk.
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