New LEI Data Format Increases Transparency of Legal Entity Types, Relationships and Events
NEW YORK, April 27, 2022 /PRNewswire/ — Bloomberg today announced the release of 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 MeizanisGlobal 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 enable the LEI to meet the evolving identification needs of industry entities.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 in 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 WolfCEO 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 in the global marketplace. 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. information about relationships with funds globally, increasing clarity for observers and supervisors.The changes also allow certain legal entities to be classified as government entities or international organizations, making it easier for everyone to categorize them. 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
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