The number of market participants with legal entity identifiers is likely to level off at 1.2 million for the rest of the year with the expiration of a key deadline for Europe’s revised Markets in Financial Instruments Directive, an international authority said.
The Global Legal Entity Identifier Foundation also said it is investigating Depository Trust & Clearing’s downgrades in the reliability of information behind a “significant number” of trader ID codes that it had issued.
A member of two Financial Stability Board advisory panels traced the predicted stagnation in LEI adoption to lack of industry confidence in some regulators' commitment to implementing the codes.
LEI issuance expected to stall through year-end now that European requirements complete
10 August 2018 7:03am