Identity, Identification and Identifiers: The Global Legal Entity Identifier System

Arthur B. Kennickell

No 2016-103, Finance and Economics Discussion Series from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Identity is a critical concept in the rational interactions of any set of objects involving subject-object relationships. The objects must be distinguished according to some framework in order for such relationships to have meaning. In the world of economic systems, relationships such as ownership and responsibility require specific parties to be fixed with a high degree of certainty. This need is particularly strong in financial markets, where transactions can take place in nanoseconds. This paper discusses a particular framework for defining economic actors, the Global Legal Entity Identifier System (GLEIS), which was initiated for the purpose of creating greater transparency about participants in financial markets and transactions.

Keywords: Data mapping; Market participants; Organizational structure (search for similar items in EconPapers)
JEL-codes: B41 C81 G19 G28 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2016-11-08
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfe:2016-103

DOI: 10.17016/FEDS.2016.103

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