GFMA Applauds ISO Adoption of LEI Standard

Release Date: 19 December 2011
Contact: Liz Pierce, 212.313.1173, lpierce@gfma.org   

GFMA Applauds ISO Adoption of LEI Standard 

New York, NY, 19 December 2011—The Global Financial Markets Association today released the following statement today upon news that the International Organization for Standardization (ISO) endorsed the industry’s recommendation for new ISO standard “ISO 17442” to be used as the standard for a global legal entity identifier (LEI) solution.  

“The LEI Trade Associations group in coordination with the Global Financial Markets Association, is very pleased that the draft ISO 17442 Legal Entity Identifier (LEI) standard received unanimous support from the ISO Member Bodies. This affirmation is a critical step forward in implementing the global LEI solution.   ISO/TC68 will address comments received in the balloting process and will provide guidance on an expected final implementation date in January.  The Trade Association group looks forward to the forthcoming guidance and the issuance of the final standard.  The Trade Association Group plans to continue to partner with ISO and others to address all implementation questions as quickly as possible to facilitate the final publication of the ISO LEI standard as well as to operationalize the LEI utility.”

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The Global Financial Markets Association (GFMA) joins together some of the world’s largest financial trade associations to develop strategies for global policy issues in the financial markets, and promote coordinated advocacy efforts. The member trade associations count the world’s largest financial markets participants as their members. GFMA currently has three members: the Association for Financial Markets in Europe (AFME), the Asia Securities Industry & Financial Markets Association (ASIFMA), and, in North America, the Securities Industry and Financial Markets Association (SIFMA).For more information, visit http://www.gfma.org.