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Allan's blog archive

2016 (1) 2012 (1)
Allan Grody

Allan Grody

President at Financial InterGroup
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Fixing the Infrastructure of Finance

14 Jan 2016

In Elizabeth Lumley's Blog on Jan 6th "Fix the Infrastructure of Finance or Die" she compares the broken rail system to similarities in the infrastructure of finance. To follow the railroad analogy, if you can imagine a global rail system with different track widths, that is what we have now in the bedrock of the global financial system....


Financial InterGroup's Global Identification LEI paper

24 Apr 2012

Our paper "GLOBAL IDENTIFICATION STANDARDS FOR COUNTERPARTIES AND OTHER FINANCIAL MARKET PARTICIPANTS" was recently sent to regulators, financial industry members and financial market participants. It was also issued as a proposal to the G20’s Financial Stability Board, and to members of their Expert Regulatory Panel and Industry Advisor...

Allan is Commenting on

FSB sets out LEI scope and timetable

  The FSB’s statement today on a going forward framework for the LEI initiative reaffirms both their seriousness and their diligence in confronting one of the most serious gaps in the global financial system’s infrastructure. The lack of a global identification system for financial market participants and the products they own, trade and process has inhibited risk aggregation for observing the contagion of systemic risk. It has cost billions annually in unnecessary infrastructure costs at global financial institutions. It has spawned numerous financial market utilities whose primary existence is purposed on resolving ambiguities in data identification and in reconciling data quality issues. Its absence has been a factor in headline grabbing operational risk events, in regulators’ inability to see that which they are mandated to oversee, and in preventing the fulfillment of the financial industry’s long sought vision of straight-through-processing. My firm and the group of global technology leaders and other stakeholders that we have assembled for accommodating the FSB’s LEI requirements looks forward to working collaboratively with all stakeholders toward a successful first implementation of a globally federated identification system for financial market participants. See:  Global Identification Standards for Counterparties and Other Financial Market Participants ... Journal of Risk Management in Financial Institutions - Special Issue on Counterparty Risk, Vol. 5, No. 2 at    --Allan D. Grody, President, FInancial InterGroup Holdings Ltd.