CFTC extends designation of DTCC-Swift as LEI provider

Source: CFTC

The U.S. Commodity Futures Trading Commission (CFTC) announced today that it has issued an Order extending, by one year, the designation of the utility operated by DTCC-SWIFT as the provider of legal entity identifiers, or LEIs, as required by CFTC’s swap data recordkeeping and reporting rules.

This extension allows more time for the global LEI system to become fully operational.

The CFTC made DTCC-SWIFT’s initial designation Order on July 23, 2012 for a two-year term. When the order was issued, the CFTC was already participating in an international process to establish a global LEI system. The designation was extended for one year on July 22, 2014 and again on July 17, 2015.

Consistent with the terms of the CFTC’s initial Order, as amended and restated, this Order continues to permit registered entities and swap counterparties subject to the CFTC’s jurisdiction to comply with the CFTC’s swap data recordkeeping and reporting rules by using LEIs issued by DTCC-SWIFT, any other pre-Local Operating Unit (pre-LOU) that has been endorsed by the Regulatory Oversight Committee (ROC) of the global LEI system as being globally acceptable, or any Local Operating Unit (LOU) accredited by the Global LEI Foundation (GLEIF).

The DTCC-SWIFT utility, which had initially been referred to on the utility’s website and in educational and other materials as the CICI utility, is now known publicly as the Global Markets Entity Identifier (GMEI) utility. The utility may be accessed at GMEI Utility. A full list of the pre-LOUs that have been endorsed by the ROC as globally acceptable, including the website via which each of these pre-LOUs may be accessed, is available atLEI ROC. The list of accredited LOUs can be found on the GLEIF website.

The Order announced today will be published in the Federal Register in the near future. 

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