The Global Legal Entity Identifier System: How Can It Deliver?

Ka Kei Chan and Alistair Milne ()
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Ka Kei Chan: Department of Economics and Finance, Brunel University London, Uxbridge UB8 3PH, UK

JRFM, 2019, vol. 12, issue 1, 1-29

Abstract: We examine the global legal entity identifier (LEI) system for the identification of participants in financial markets. Semi-structured interviews with data professionals revealed the many ways in which the LEI can improve both business process efficiency, and counterparty and credit risk management. Larger social benefits, including the monitoring of systemic financial risk, are achievable if it becomes the accepted universal standard for legal entity identification. Our interviews also review the substantial co-ordination and investment barriers to LEI adoption. To address these, a clear regulatory-led road map is needed for its future development, with widespread application in regulatory reporting.

Keywords: big data; data standards; entity identifiers; macroprudential policy; regulation; risk management; Dodd-Frank Act; operational efficiency; systemic risk (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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