GoldenSource adds support for LEI to EDM systems
The company has taken a twofold approach. Users will be able to add LEI codes to the GoldenSource EDM system as their primary entity identifier or as an additional one. It has also extended its managed Connections service to include LEI-related information from data vendors.
No software upgrade is needed for existing users and Connections updates are provided by GoldenSource as part of the service.
The company says that LEI information, coupled with its Vendor Data Source Hierarchy, will provide institutions with a mechanism to achieve a consolidated Entity Master.
In its final report on draft technical standards for the European Market Infrastructure Regulation, the European Securities and Markets Authority officially recommended the use of the LEI. Regulatory oversight defined by Dodd-Frank hinges on use of the LEI to identify parties.
Currently more than 35,000 entities have had LEI codes assigned and their information validated. With over 47,000 entities from 125 countries having already registered with the CFTC Interim Compliant Identifier database (CICI) utility, this number is set to grow.