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DTCC’s GMEI utility awarded GLEIF accreditation

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The Depository Trust & Clearing Corporation’s (DTCC) subsidiary operating the Global Markets Entity Identifier utility (GMEI utility) has received official accreditation from the Global Legal Entity Identifier Foundation (GLEIF).

The GMEI utility was among the first legal entity identifier (LEI) issuers to be endorsed by the LEI Regulatory Oversight Committee (LEI ROC) and continues to operate as the largest by share of the total LEIs issued worldwide.
 
The GLEIF, whose purpose is to ensure that the LEI remains the industry standard best suited to providing open and reliable data for unique legal entity data identification management, is evaluating the suitability of organisations seeking to operate within the Global LEI System (GLEIS) – as issuers of LEIs and custodians of LEI reference data.
 
DTCC’s GMEI utility applied to become GLEIF-accredited and was subject to the same evaluation criteria as any new organisation seeking accreditation. The GLEIF assumed responsibility for accrediting organisations from the LEI ROC back in 2015.
 
“The GMEI utility continues to play a significant role as new financial regulations globally increasingly mandate the use of LEIs,” says Ron Jordan (pictured), managing director of data services at DTCC. “LEIs are a critical tool to uniquely and unambiguously identify legal entities to help regulators and market participants aggregate and better understand exposures, enhance market transparency and significantly improve the analysis of systemic risk. We’re committed to data quality and, being one of the first LEI issuers to receive accreditation reflects that we have sufficient capabilities in place to ensure high data quality in the GLEIS.”
 
Launched in 2012 after the Commodity Futures Trading Commission (CFTC) selected it to help firms meet swap data record-keeping and reporting rules, DTCC’s GMEI utility has issued over 240,000 LEIs to entities from over 200 jurisdictions representing approximately 50 per cent share of the total LEIs issued worldwide, and more than three times the next largest LEI issuer. In addition, it collaborates with the following local registration agents – CUSIP Global Services (CGS) and TMX’s Canadian Depository for Securities (CDS) in North America as well as NordLEI and SIX SIS Ltd in Europe.

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