SFTR presents firms with many data challenges, including capturing the correct issuer LEI. There are ten unique instances in which reporting parties are required to provide an LEI and one of the most challenging of these is the LEI for an issuer of a security.
The Association of National Numbering Agencies (ANNA) and the Global Legal Entity Identifier Foundation (GLEIF) announced the go-live for their new initiative to start linking ISIN codes with LEIs on the 4th April 2019.
The published ISIN to LEI mapping will be freely available on the GLEIF website and already contains mappings for in excess of 1 million ISINs. While details of the issuer LEI are already available on the FIRDS database for securities admitted to trade in the EEA, coverage is lacking outside this region. Given the global nature of collateral used in SFT transactions and the requirement to populate the issuer LEI for every piece of security collateral, this is a very welcome development to facilitate the reporting requirements.
We hope in future that such an initiative extends further into other SFTR reference data elements such as the CFI codes, maturity of the security (where applicable), security type and high level security quality. Nevertheless this is a valuable contribution to successful reporting.
Did you know Kaizen provides training on the SFTR reporting requirements? For further details, please see our SFTR Reporting Core Training page.