By Steve Marlin, Markets Media
June 4, 2012
Regulatory reform, competitive pressures and the need to optimize data across the enterprise are pushing custodians, service providers, consultants and securities firms to refine their data management strategies.
Organizations have been trying to reach a golden source for reference data for some time, but the lack of data standards have made this difficult - different exchanges, asset classes (e.g. equities versus equity options), different regulatory environments, different systems utilize different elements of data.
“Few organizations have been able to implement a single data source,” said Alberto Corvo, managing principal, financial services at eClerx. “However, up and coming initiatives like LEI should make this easier to achieve.”
Legal entity identifier (LEI) is a global program designed to create and assign unique identifiers to every financial organization that engages in a financial transaction.
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