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EMIR, Mifid

LEI registration

The Legal Entity Identifier(LEI) initiative was created as part of the G20 requirements to reduce systemic risk, so that legal entities will have a common and traceable identifier on reports, allowing regulators to track exposures. This page on the GLEIF website explains the process further.

MiFID II requires that all transaction reports, in all asset classes, use LEIs to identify parties to a trade. The requirement follows the push under EMIR to use LEIs for all derivatives reporting. This article on DerivSource by  Ron Jordan looks at the growing number of registrations of LEIs because of MiFID II. it also outlines the requirement to now provide parent level information on records as well. There is also mention of the issue of some entities not renewing their LEI registration which is now being addressed by regulators globally.

This article by Shanny Basar on Markets Media also looks at the issues, the likely surge in registrations in Q4, and the lack of registrations in Asia.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on energy and commodity regulation. He has more than 20 years of experience in energy and commodity trading, credit, risk and financial technology. He has delivered a series of trading, credit and risk solutions to a wide variety of oil majors, power and gas companies and investment banks. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.

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