June 30, 2022

Bloomberg Releases New Common Data Format 3.1 Dataset for Legal Entity Identifiers

Bloomberg released the new Common Data Format 3.1 for Legal Entity Identifiers (LEIs) and received a second accreditation as an LEI issuer for the funds. As an accredited local operating unit of the Global LEI System, Bloomberg can issue and maintain LEIs through its web portal. lei.bloomberg.com or on the Bloomberg terminal at LEI . To streamline capturing the new data requirements of CDF 3.1, Bloomberg has revamped its LEI web portal with an improved user experience, additional features and greater storage capacity.

Steve Meizanis, Global Head of Symbology and LEI Services at Bloomberg, comments, “As an accredited LEI issuer, Bloomberg welcomes the new common data formats. The additional data collected on mutual funds, government entities and corporate events enables the LEI to meet the ever-changing industry needs for entity identification. We are proud to be part of the global effort to adopt LEIs, improve the quality of financial data and bring more transparency and consistency to capital markets.

This new common data format, released by the Global LEI Foundation, now includes six entity category data fields that describe the type of legal entity, such as an investment fund or government entity, as well as government entities residential, fund relationship types and corporate events. such as changes of name or address. By including these new categories, businesses are better able to understand their exposure to different types of legal entities, ensure they meet Know Your Customer (KYC) requirements, and have access to metadata for integration of customers.

Stephan Wolf, CEO of the Global LEI Foundation, comments: “These new LEI data formats further increase the level of open, standardized and high-quality legal entity reference data available to users, creating even more transparency on the global market. The inclusion of legal entity event data, for example, will ensure that the global LEI system provides the most accurate and up-to-date information on legal entities as they evolve. By updating the way relationships with entities that impact investment funds are recorded in the Global LEI System, we are facilitating the standardized collection of fund relationship information globally, which increases clarity for observers and supervisors. The amendments also allow certain legal entities to be categorized as government entities or international organizations, making their categorization easier for all users of the Global LEI System.

As the leading provider of financial information and reference data, Bloomberg maintains information for more than six million public and private entities. Bloomberg’s entity coverage includes basic business card data (addresses, phone and fax numbers), registry information, full sanctions coverage as well as hierarchical data including immediate parent, ultimate parent and the debtor.

Bloomberg’s data division also supports the company’s responsibilities as registration authority and issuer of the global financial instrument identifier (FIGI) under the auspices of the Object management group. The FIGI and LEI are managed under the same Open Symbology umbrella within Bloomberg. To access FIGI information, go to: http://openfigi.com/. For more information on Bloomberg’s LEI Inquiry and Registration Service, please visit: lei.bloomberg.com

About Bloomberg

Bloomberg, the global leader in business and financial information and news, gives influential decision-makers a decisive edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analysis through innovative technology, quickly and accurately – is at the heart of the Bloomberg Terminal. Bloomberg’s enterprise solutions build on the company’s core strength: using technology to enable customers to access, integrate, distribute and manage data and information across organizations in more effective and efficient. For more information, visit www.bloomberg.com or request a demo.

Source: Bloomberg

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