The Association of National Numbering Agencies (Anna) and the Global Legal Entity Identifier Foundation (Gleif) have inked a deal to link International Securities Identification Numbers (Isins) and Legal Entity Identifiers (LEIs) in an effort to improve exposure management between trading counterparties.
The global initiative will map new and legacy Isins to their corresponding LEIs.
By linking the two ISO standards together, firms will be able to aggregate the data required to gain a clear view of their securities exposure within a given issuer and its related entities, says Stephan Wolf, CEO, Gleif.
"While the linking of Isins and LEIs has been mandated by some regulations, we see this new initiative as beneficial to the entire global market," he says. "It is the first big step in having the tools available for aggregation of the data necessary to assist with risk and exposure management.”
Once implemented, the Isin-to-LEI mapping table will be made freely available on both the Gleif and Anna websites, adds Wolf.
Global uptake of LEIs, implemented as a key reform following the financial crisis, has so far been patchy, but with regulatory bodies moving to enforce the mandate, the agreement between the two standards bodies will be welcomed by industry participants.
Dan Kuhnel, chairman, Anna, says: "We are constantly looking at ways to promote standardisation and bring about harmony in the financial industry, and are delighted to work together with Gleif to link two important ISO standards together. We look forward to working with the National Numbering Agencies to help move this initiative forward into the implementation stage.”